World's third largest port operator says it is committed long-term to operations in India
DP World has said it will invest about $200m in building a new container terminal at Jawaharlal Nehru Port in India.
The world's third largest port operator will build the terminal next to the Nhava Sheva International Container Terminal (NSICT), which DP World currently operates.
The announcement was made at a ceremonial signing of the concession awarded to DP World to construct and operate the port which follows the receipt of the letter of award last November.
The new 330-metre berth with 27 hectares of yard will add 800,000 TEUs (twenty foot equivalent container units) of container capacity and help ease congestion at Jawaharlal Nehru Port.
Sultan Ahmed Bin Sulayem, Chairman, DP World, said: "We thank the Government of India and the Jawaharlal Nehru Port Trust for their confidence in our ability to support the growth of India's vibrant economy through the construction and operation of new state of the art, modern infrastructure in the country's busiest port.
"With a 17 year concession period, we are investing for the long term and we look forward to continuing to work with Jawaharlal Nehru Port Trust into the future."
Anil Singh, senior vice president and managing director, DP World Subcontinent, added: "We were the port's first private partner in 1997 with NSICT, and together with the port we have played a key role in serving India's growing trade over more than a decade."
The new facility is expected to be operational in 2015, DP World said last year.
The new quay will be equipped with four rail mounted quay cranes and 12 rubber tyred gantry cranes.