DP World Limited DPW DP World Wins JNPT (Mumbai) Terminal Project

  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 -

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                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCBBBLTMBJMMJT -0- Nov/01/2012 09:35 GMT
 
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