Global shipping giant DP World has signed a concession agreement with Deendayal Port Authority Kandla Port on Friday to develop a container terminal in Tuna Tekra, a satellite facility. The project's total investment is estimated to be Rs 4243 crore.
The Public-Privity Partnership project, which was floated last year, is expected to begin operations by early 2027. The new ship will be completed with a 1,100 metre berth capable of handling next-generation ships that can carry more than 18,000 containers.
The new terminal is designed to cater to the future demands of the hinterland in northern, western, and central India. The shipping ministry said it is expected to further strengthen trade by connecting businesses from these regions to international markets.
The centre aims to reduce container logistics expenses within the country through the strategic location of the terminal as an assistance in its endeavor to reduce container logistics costs.
The agreement covers a period of 30 years and can be extended by an additional 20 years.
Once operational, the terminal will play an important role in the government's ambitious vision to make India an export hub and will also support the creation of direct and indirect employment in various sectors such as transportation, distribution and supply chain, said Sarbananda Sonowal, the Union's minister for ports, shipping, and waterways.