The Jawaharlal Nehru Port Trust, a container-handling port in India, and Nhava Sheva Gateway Terminal, a subsidiary of DP World at Jawaharlal Nehru Port, today signed a concession agreement for the development of a stand-alone container-handling facility at the Jawaharlal Nehru Port.
Under the deal, a terminal with a quay length of 330 meters (about 1,083 feet) will be developed by DP World at an estimated cost of Rs. 600 crore (about US$102.2 million). The estimated capacity addition will be 0.8 million 20-foot-equivalent units per year. The project is scheduled for completion in December 2015.
The project will be executed on “design, build, 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 its offer of 28.9 percent revenue share to the port. DP World has formed a special purpose vehicle, namely Nhava Sheva Gateway Terminal, to implement this project.