DP World Says India Project on Schedule

Dubai World's financial problems will have no immediate adverse impact on India's first international container transshipment terminal under development at the southeastern Port of Cochin, subsidiary DP World told port officials.

The port authority on Monday held a meeting with senior officials of DP World India to review progress on the build-operate-transfer project, with annual capacity of 1 million 20-foot equivalent units in the first phase.

The authority said it has been assured by the Dubai-based company that the $500-million terminal will open on schedule in April, 2010.

“The port is making a huge public investment to the tune of $350 million, and therefore, it has become necessary to fix up firm time lines for the commissioning of the terminal project,” the authority said.

At the meeting, port officials said work on the mandatory rail-road connectivity facilities and deepening of the approach channel would be completed by March 31. The dredging project will enable Cochin to handle 8,000-TEU vessels with drafts up to 14.5 meters.

Plans for the initial phase include a 600-meter quay, on-dock rail head serviced by rail-mounted gantry cranes, a 30-hectare container yard, and the acquisition of six super post-Panamax cranes.

DP World is the largest private terminal operator in India, with operations at five of the country’s largest ports. Projects in the pipeline include a 600,000-TEU box terminal at Kulpi near Kolkata, and an estimated $80-million expansion at Nhava Sheva to boost capacity from the current 1.5 million TEUs to 2 million TEUs.