DP World has signed a Memorandum of Understanding with the Tamil Nadu Government for projects totaling around Rs 2,000 crore in Tamil Nadu, India.
“These projects may create employment for 4,500 people (1,500 direct and 3,000 indirect),” a government official said.
A new container terminal in India is amongst the investments agreed in a new memorandum of understanding (MoU).
In addition to a container terminal, projects are due to include a cold storage and seafood processing zone, free trade zone with an integrated rail siding, minor port in the Eastern Coast of Tamil Nadu and inland container depots in Erode, Karur and Tirupur.
DP World operates five terminals across India. These include the International Container Transshipment Terminal (ICCT) at Cochin Port, which is being developed to be the largest single-operator container terminal in India. The hinterland of the port includes the state of Kerala and parts of Tamil Nadu and Karnataka.
The Chennai Container Terminal (CCT) is managed under a 30-year Build-Operate-Transfer agreement set up with the Chennai Port Trust (CPT). The terminal is capable of handling fifth-generation vessels up to 6,400 TEU and entered the “One Million” TEU club in 2007. It is a driver in the economic growth of Tamil Nadu.
Mundra International Container Terminal (MICT) is one of the first Greenfield projects in a minor port to successfully commence container terminal operations. Since the commencement of operations in 2003, MICT has handled over 10m individual containers and in 2014 handled a million TEUs in a year for the first time. MICT has a proven ability to handle large vessels up to 367m in LOA with a draught of 15.5m.
Nhava Sheva International Container Terminal (NSICT) at Jawaharlal Nehru Port (JN Port) was set up in 1997 and was inherited by DP World as part of the P&O Ports acquisition in 2006. NSICT is managed under a 30-year Build-Operate-Transfer agreement set up with the Jawaharlal Nehru Port Trust (JNPT).
Visakha Container Terminal’s (VCT) terminal capacity is being extended to more than 1.5 million TEUs by 2021. The terminal has been recording a decent growth year on year with a CAGR of 22% since inception