DP World has signed a concession agreement with the Deendayal Port Authority to build, manage, and maintain a new 2.19 million TEU per year mega-container terminal in Kandla, on India’s west coast.
The concession agreement was signed between S. K. Mehta, Chairman of Deendayal Port Authority and Rizwan Soomar, MD & CEO, India Subcontinent, Middle East and North Africa, DP World.
It was signed in the presence of Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways, Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, Shantanu Thakur, Minister of State for Ports, Shipping and Waterways, at a ceremony in New Delhi.
The Deendayal Port Authority awarded the concession to Hindustan Infralog Private Limited, a joint venture between DP World and the National Investment and Infrastructure Fund, India’s collaborative investment platform anchored by the Government of India, in January.
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The concession is reportedly for 30 years on a Build-Operate-Transfer (BOT) basis, with the option to extend for another 20 years.
The project entails the development of a mega-container terminal near the current Deendayal Port in Tuna-Tekra at a cost of approximately $510 million via a Public Private Partnership (PPP).
The 2.19 million TEU per year terminal, which is scheduled to open in 2027, will have cutting-edge technology and a 1,100-metre berth capable of handle next-generation boats holding more than 18,000 TEU, according to DP World.
The berth may be expanded to 1,375 metres as part of the concession agreement.
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Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “We are honoured to partner with Deendayal Port Authority in developing this new mega-container terminal at Tuna-Tekra.
“It will enable DP World to deliver trade opportunities, by connecting Northern, Western and Central India with global markets, thereby driving value for all our stakeholders. India represents a significant landscape for opportunity.
“The signing of this concession agreement marks another milestone in our collective efforts with the National Investment and Infrastructure Fund to leverage DP World’s expertise in logistics infrastructure and local knowledge to further strengthen India’s supply chain to support the growth of trade and industry.”
