Foundation stone for new India terminal laid
A major milestone in the development of the new DP World terminal at India's premier gateway port, Jawaharlal Nehru Port, was achieved on Wednesday with the ceremonial laying of the foundation stone by Indian Minister of Shipping G K Vasan.
The ceremony at the Nhava Sheva (India) Gateway Terminal site was held in the presence of the Minister of State for Shipping Milind Deora, Chairman of DP World Sultan Ahmed bin Sulayem, and N N Kumar, Chairman of Jawaharlal Nehru Port, along with dignitaries from the Government of India, senior members of Jawaharlal Nehru Port Trust, DP World, and the Indian business community.
Sultan Ahmed Bin Sulayem, Chairman, DP World, said, "Today is an important milestone for us and we thank the Honourable Minister G K Vasan, for laying the foundation stone for the Nhava Sheva (India) Gateway Terminal. The new development would not have been possible without the dedication and commitment of the Government of India to India's business community. As the busiest gateway and hub in India, Nhava Sheva has been constrained in the past by lack of facilities, which has impacted trade. We at DP World are proud to bring new capacity to this vibrant city and the fast growing economy of India.
"The new terminal will serve India for generations to come and help speed goods to market, stimulating trade, contributing to economic growth, which in turn contributes to the development of communities and individuals," he said.
Anil Singh, Senior Vice President and Managing Director, DP World Subcontinent said, "For the last five years, India's premier port has been in critical need of capacity with container trade rising. The building of greater capacity is part of the port's long term vision. Nhava Sheva (India) Gateway Terminal will provide the immediate relief that the trade community urgently requires and we at DP World are fast tracking the project to commence operations as early in 2015 as possible and we have already placed the order for the cranes that will be installed."
Once constructed, the new terminal will add 800,000 TEUs (twenty foot equivalent container units) of container capacity to the port, and help ease congestion, as the port is currently operating beyond capacity. DP World is investing US$200 million to build the terminal.
With one of the strongest emerging economies in the world, and a burgeoning middle class population, India offers immense potential for growth. With Nhava Sheva (India) Gateway Terminal, DP World will contribute even more to India's growth, offering customers the ability to grow and expand their business in India more efficiently.
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