Bin Sulayem (right) and Kumar

Bin Sulayem (right) and Kumar

Work begins on new DP World terminal

The Dubai-based operator is filling a critical shortfall in capacity at India’s main port, helping also end port congestion, stimulate trade and push economic growth

April 2014

DP World’s move to expand capacity in its terminals took a step forward with the ceremonial laying of the foundation stone for a new terminal by Indian Minister of ShippingGK Vasan.

The ceremony at the Nhava Sheva Gateway Terminal site was held in the presence of the Minister of State for Shipping, Milind Deora, the chairman of DP World, Sultan Ahmed Bin Sulayem, and the chairman of Jawaharlal Nehru Port, NN Kumar.

Speaking on the occasion, Bin Sulayem said: “The new development would not have been possible without the dedication and commitment of the Government of India to India’s trade community. As the busiest gateway and hub in India, Nhava Sheva has been constrained in the past by lack of facilities, which has impacted trade. We at DP World are proud to bring new capacity to this vibrant city and the fast growing economy of India.” 

He added that the new terminal will serve India for generations to come and help speed goods to market, stimulating trade and contributing to economic growth, which in turn contributes to the development of communities and individuals.

Anil Singh, senior vice president and managing director, DP World Subcontinent, said India’s port was critically in need of capacity with container trade growing. “The building of greater capacity is part of the port’s long-term vision. Nhava Sheva Gateway Terminal will provide the immediate relief that the trade community urgently requires and we at DP World are fast tracking the project to commence operations as early as possible and we have already placed the order for the cranes that will be installed.” The likely time of completion is 2015.

Once constructed, the new terminal will add 800,000 teu of container capacity to the port, and help ease congestion as the port is currently operating beyond capacity.  DP World is investing $200 million to build the terminal.

With one of the strongest emerging economies in the world, and a burgeoning middle class population, India offers immense potential for growth. With the Nhava Sheva (India) Gateway Terminal, DP World will contribute even more to India’s growth, offering customers the ability to grow and expand their business in India more efficiently.

DP World has a portfolio of more than 65 marine terminals across six continents, including new developments underway in India, Africa, Europe, South America and the Middle East.

In 2013, it handled more than 55 million teu. With its committed pipeline of developments and expansions, capacity is expected to rise to more than 100 million teu by 2020,

The company posted a 10.9 per cent rise in annual profit. The world’s fourth-largest port operator clocked $604 million in profit attributable to shareholders for 2013, compared with $545 million in 2012. Revenue for the period fell 1.5 per cent to $3.07 billion from $3.12 billion in the prior year.

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