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DP World is seeking an extension of the concession period for its Nhava Sheva International Container Terminal at Jawaharlal Nehru Port near Mumbai beyond its 30-year tenure, which ends in 2027. The company also operates the adjacent Nhava Sheva (India) Gateway Terminal, whose concession runs until 2031. DP World said it plans to operationalise its new mega-container terminal at Tuna-Tekra by the end of next year and has committed an additional USD 5 billion investment in India. The company has already invested USD 3 billion in the country over the past three decades.
Dubai-based logistics company DP World is seeking an extension of the concession for its Nhava Sheva International Container Terminal (NSICT) at Jawaharlal Nehru Port near Mumbai beyond its current 30-year tenure, which ends in 2027.
NSICT, India's first private container terminal, has a 600-metre berth and is one of the five container terminals operating at Jawaharlal Nehru Port. Its concession is scheduled to end on June 30, 2027, after completing 30 years.
DP World also operates the adjacent 330-metre Nhava Sheva (India) Gateway Terminal Pvt Ltd (NSIG), which has a 17-year concession period ending in 2031.
DP World India Subcontinent Country Manager Hemant Kumar Ruia said every company would seek an extension of its concession period when asked whether the company had approached the Ministry of Ports, Shipping and Waterways for an extension of NSICT's concession.
Ruia also said the new mega-container terminal at Tuna-Tekra, being developed by DP World in partnership with Deendayal Port Authority, is expected to be operational by the end of next year.
The company has committed an additional USD 5 billion investment in India to strengthen its integrated supply chain network supporting exports and domestic trade. This will be in addition to the USD 3 billion that DP World has already invested in India over the past three decades.
On the impact of the West Asia crisis arising from the Iran-US war on supply chains, Ruia said it would be too early to predict its impact. He expressed hope that the situation would be resolved, which could help bring down current trade rates that remain relatively high. He added that DP World had identified alternative avenues to diversify its operations and ensure trade continues, particularly in India.
DP World also said its MAITRI Virtual Trade Corridor had conducted trials to digitally connect Nhava Sheva and Jebel Ali through the Indian and UAE customs systems. The initiative reduced clearance times by 40% and is being developed under the guidance of the Ministry of Commerce and Industry and the Ministry of External Affairs.
The company said its Bharat Africa Setu initiative will give Indian exporters access to 53 African countries where DP World has an established logistics network, connecting them to around 260,000 points of sale.
Source PTI
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