Mumbai' s status as economic capital of country is set to enhance with Jawaharlal Nehru Port Trust (JNPT), the country's largest container port in the country, on Wednesday laying the foundation stone for constructing a 330 meter large stand-alone container terminal at a cost of Rs 600 crore.
The development will push JNPT among top 10 container facility ports in the world. The project is expected to be completed by end 2015. At present JNPT handles over 56% of the container traffic in India. During the year 2011-12, JNPT recorded a total traffic of 65.75 million tonnes and container traffic of 4.32 million TEUs (Twenty-foot equivalent unit is a unit of cargo capacity).
The development of the new stand-alone terminal will enhance the capacity addition of 0.8 million TEUs per annum, the officials said.
The project will be developed on public private partnership or PPP model by Dubai-based DP World's Indian subsidiary Nhava Sheva (India) Gateway Terminal Ltd (NSIGI), added the JNPT officials directly involved with the development of the project.
"In India, container volumes are expected to witness an exponential growth. Container terminals at major ports help in expanding international trade. Building new container terminals will help meet the growing global demand," said Union Minister of Shipping, KV Vasan during the foundation stone laying ceremony.
The officials involved with the project said the proposed new container terminal was envisaged from various studies, requiring the port to handle container traffic to the tune of 10 million TEUs by year 2018-19.
With this capacity addition, JNPT will be able to handle 10 million TEUs and place itself in ten biggest global container ports.
JNPT is the biggest container handling Port in India, handling around 56% of the country's containerized cargo. The port is currently ranked 31st among the top 100 container ports in the world.