Agencies
Dubai, Nov 25: DP World, the world's third-largest port operator, has awarded a contract for the first phase of a container terminal in India to Simplex Infrastructures Ltd, for about US$150 million.
Simplex Consortium, a publicly traded civil engineering and construction group, won the contract for the construction of the new terminal which DP World will build and manage at Vallarpadam near the southwestern Indian city of Kochi.
The construction of India's largest terminal is expected to begin in December and continue for up to 24 months.
DP World said Phase 1 of the terminal will be completed by the first quarter of 2009 and will have the capacity to handle one million TEU.
The terminal will have a capacity to handle one million TEUs (twenty-foot equivalent container units) when the first phase is completed in the first quarter of 2009.
The planned capacity at Vallarpadam is three million TEUs, making it the largest container terminal in India.
DP World aims to make Vallarpadam, which is located on the main East-West global shipping lanes, a gateway to southern India while offering an alternative to Sri Lanka and Singapore for container transshipment.
Ganesh Raj, senior vice president and managing director of the DP World Subcontinent region, said: 'Vallapardam will be a key facility in our network of 42 terminals globally, but it will also have a positive impact on the economy of the region, stimulating trade and creating jobs.'