India News | Dubai-based DP World to Partner with Deendayal Port Authority for New Container Terminal in Gujarat

New Delhi [India], August 24 (ANI): The Deendayal Port Authority (DPA), a leading major port on the West Coast of India in Gujarat, will be signing a concession agreement with DP World , a Dubai-based multinational logistics company, on Friday. The agreement is for the development, operation, and maintenance of a new mega container terminal at Tuna-Tekra, near Kandla in Gujarat.

This agreement is part of a commitment by the Ministry of Ports, Shipping, and Waterways to develop the best infrastructure at the ports to increase the economic growth of the country.

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As per the Ports, Shipping, and Waterways Ministry " The concession agreement will be signed on August 25, 2023, between Deendayal Port Authority and DP World in the august presence of  Sarbananda Sonowal, Union Minister of Ports, Shipping, and Waterways, and AYUSH, and  Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World at Tactic 1 and 2, at Aloft Hotel Aerocity, New Delhi."

“The project involves the construction of a mega-container terminal at Tuna-Tekra near Kandla at a cost of Rs 4,243.64 crore through Public Private Partnership (PPP) mode. Once complete, the terminal will have an annual capacity to handle 2.19 million container units (TEUs), with the capability to handle next-generation vessels carrying more than 18,000 TEUs." the Ministry added 

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The ministry further said, “The new terminal will cater to future trade demand from Northern, Western, and Central India, connecting the regions to global markets. The project aligns with Vision 2047 of the Government of India to quadruple port handling capacity and develop multimodal logistics infrastructure to promote economic growth.”

The 30-year PPP project agreement with a Special Puropse Venture (SPV) of Hindustan Infralog Private Limited (a JV of DP World and the National Investment and Infrastructure Fund (NIIF)) is on a build-Operate-Transfer (BOT) basis, extendable up to 50 years. The container terminal will be fully compliant with the green port guidelines, ensuring sustainability in port operations by adopting best practices in port environment management and contributing towards the long-term sustainability goals set out by the Government of India. 

The project is expected to add operational efficiency in terms of reduced congestion at Kandla Creek, enhanced ability to handle mega container vessels, a 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 the hinterland and global markets. 

The project is part of the National Infrastructure Pipeline and will complement initiatives of the Government of India envisioned by the Prime Minister, such as the PM Gati Shakti Master Plan and National Logistics Policy. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)