New terminal will connect India to global markets
A Rs.4,243.64 crore (US$510 million) mega-container terminal at Tuna-Tekra near Kandla is being undertaken by DP World, a multinational logistics company based in Dubai, through 30-year Public Private Partnership (PPP) mode under a pact signed with the Deendayal Port Authority (DPA).
Once complete, the terminal will have annual capacity to handle 2.19 million container units (TEUs) with capability to handle next-generation vessels carrying more than 18,000 TEUs, said Ministry of Ports, Shipping and Waterways.
Fully compliant with the green port guidelines, it will have 1,100m berth to handle next-generation vessels and will connect Northern, Western and Central India with Global market.
The project aligns with Vision 2047 of Government to quadruple port handling capacity and develop multimodal logistics infrastructure to promote economic growth, the Ministry said on 24 Aug 2023.
The container terminal will be fully compliant with the green port guidelines ensuring sustainability in port operations by adopting best practices of port environment management contributing towards the long-term sustainability goals set out by the Government, the Ministry said.
The project is expected to add operational efficiency in terms of reduced congestion at Kandla creek, enhanced ability to handle mega container vessels, significant reduction in turnaround time and many other advantages for the creation of efficient and resilient supply chains in the country.
Equipped with multimodal connectivity through a wide network of roads, rail and highways, the terminal will provide a gateway between hinterland and the global markets, it said.
The PPP project agreement signed with an SPV of Hindustan Infralog Private Limited (a JV of DP World and National Investment and Infrastructure Fund (NIIF)), is on Build-Operate-Transfer (BOT) basis, extendable up to 50 years.
A concession agreement signed between Deendayal Port Authority and DP World in the presence of Sarbananda Sonowal, Minister for Ports, Shipping & Waterways and Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World; Rizwan Soomar, DP World, CEO & MD, Middle East, North Africa and India, Sanjay Mehta, IFS, Chairperson and other senior officials of the ministry in New Delhi.
This concession agreement is a part of Minister Sonowal’s mega target of identifying investment opportunities of more than Rs.10 lakh crores in Indian Maritime Sector for the upcoming Global Maritime Summit 2023 from 17-19 October 2023 at Bharat Mandapam, Pragati Maidan, New Delhi, which is being organised by MoPSW.
This Summit will showcase global best practices, foster investment partnerships and chart a new and bright course for our collective future. The GMIS 2023 will also provide a stage to 60+ countries, exhibitors and investors from various domains of the maritime sector. fiinews.com
