DP World Limited (DPW) - DP World Wins JNPT (Mumbai) Terminal Project RNS Number : 0792Q DP World Limited 01 November 2012 DP WORLD WINS TERMINAL PROJECT AT JAWARHARLAL NEHRU PORT, MUMBAI New investment will add 800,000 container capacity and help ease congestion for customers Mumbai, India, Dubai, UAE Wednesday 1 November 2012 - DP World Limited today announces that it has received the Letter of Award from Jawaharlal Nehru Port Trust, Government of India, to build and operate a single berth facility of 330 metres quay length alongside its existing terminal operation at Nhava Sheva, Mumbai. The new facility is expected to be operational in 2015. DP World will be investing approximately $200m to build a container terminal of 330 metres quay length and 17 hectares of yard which will have an annual handling capacity of 800,000 TEUs (twenty foot equivalent container units) and draft of 13.5 metres. The new quay has been awarded for a 17 year concession period and will be equipped with 4 rail mounted quay cranes and 12 rubber tyred gantry cranes. Mohammed Sharaf, Group Chief Executive Officer, DP World said, "We thank the Government of India and the Jawaharlal Nehru Port Trust for awarding us this project. India is one of our most important markets and we are committed to supporting its growth over the long term. We currently operate five Indian terminals (Chennai - Mundra - Nhava Sheva - Visakhapatnam - Cochin), and our Asia Pacific and Indian Subcontinent region was the main driver of our volume growth in the first six months of 2012, reporting a 12.1% increase in volumes to 13.3 million TEU." Anil Singh, Senior Vice President and Managing Director, DP World Subcontinent said, "We are extremely pleased to receive the award for the 330 metre project. Timely capacity on the west coast of India is critical to our country's economic growth. JNPT is India's largest trade gateway and additional port capacity will ease the congestion concerns of the shipping community. We look forward to working with Jawarharlal Nehru port on the project to continue to service India's trade as the premier gateway." - ENDS - Investor Inquiries Fiona Piper Investor Relations DP World Limited +44 207 901 4142 (UK direct) +44 7919175602 (UK mobile) Media Inquiries Sarah Lockie Corporate Communications DP World Limited +971 48080835 (UAE Direct) This information is provided by RNS The company news service from the London Stock Exchange END MSCBBBLTMBJMMJT -0- Nov/01/2012 09:35 GMT
DP World Limited DPW DP World Wins JNPT (Mumbai) Terminal Project
Press spacebar to pause and continue. Press esc to stop.