JNPT signs concession agreement with DP World
The Jawaharlal Nehru Port Trust (JNPT), Mumbai and Nhava Sheva (India) Gateway Terminal Pvt. Ltd. (a subsidiary of DP World), signed a concession agreement today for development of standalone container handling facility at the Jawaharlal Nehru port. G. K. Vasan, union minister for Shipping and Sultan Ahmed Bin Sulayem, chairman, DP World were present on the occasion. Under the agreement, a terminal with the quay length of 330 metres will be developed by the concessionaire at an estimated cost of Rs600 crore. The estimated capacity addition will be 0.8 Million TEUs per annum. The project is slated to be completed by December 2015.
The project would be executed on DBFOT (Design, Built, Finance Operate and Transfer) basis, with a concession period of approximately 17 years. The Jawaharlal Nehru Port Trust floated a global tender and DP World was the successful bidder for the project, with their offer of 28.9% revenue share to the port. DP World has formed a special purpose vehicle (SPV) namely Nhava Sheva (India) Gateway Terminal Pvt. Ltd to implement this project.
The Ministry has awarded 32 Projects in 2012-13 which will add a capacity of 137 MMTPA (Million Metric Tonne Per Annum) at an estimated investment of Rs6,765 crore. This is the best performance for any year in the history for the ministry.