Excelsior Correspondent
NEW DELHI, June 22: India’s largest container handling port Jawaharlal Nehru Port Trust (JNPT) recently signed an agreement with DP World’s Indian subsidiary Nhava Sheva for development of a standalone container handling facility at the port in Navi Mumbai at an estimated cost of Rs 600 crore.
The agreement was signed today in the presence of G K Vasan, Minister of Shipping and HE Sultan Ahmed Bin Sulayem, Chairman, DP World and other senior officers including Pradeep K Sinha, Secretary (Shipping) and S K Kaul, Chief Manager (Admin) and Secretary, JNPT.
The concession agreement entails the development of Standalone Container Handling Facility with the quay length of 330 m at JN Port, Sheva, Navi Mumbai, Maharashtra.
Under the agreement, the terminal will be developed by Nhava Sheva at an estimated cost of Rs 600 Crore, with an estimated capacity addition of 0.8 Million TEUs per annum.
“By signing of this concessional agreement and development of 4th container terminal, JN Port will cross historic figure of achieving 10 million TEUs by the year 2018-19, creating an array of worthwhile opportunities for shipping lines for maritime trade to ship their cargo to various sectors across the globe,” said S K Kaul.
The concession agreement was signed on behalf of JNPT by Chairman NN Kumar and on behalf of the Nhava Sheva (India) Gateway Terminal Pvt Ltd by Anil Singh, senior vice president and managing director of M/s DP World (Subcontinent).
The project would be executed on DBFOT (Design, Built, Finance Operate and Transfer) basis, with a concession period of approximately 17 years and is slated to be completed by December 2015.
Follow our WhatsApp channel