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DP World, one of the largest marine terminal operators in the world, is looking at investment opportunities in the Indian port sector, according to Mr Mohammed Sharaf, Chief Executive Officer of the company.
Investments in the Indian port sector are economically viable because of capacity shortage. For instance, he said the company is still pursuing the Kulpi port project in West Bengal. It may be recalled that the Government along with DP World is planning to set up a container port and a special economic zone at Kulpi, around 55 km from Kolkata.
Speaking to reporters here on Friday after the inauguration of the International Container Transhipment Terminal (ICTT) at Vallarpadam, Mr Sharaf said that with the opening of India's first ICTT, the company will offer customers world-class, reliable and value added services with excellent road connectivity for greater efficiency which will help them get their goods faster to markets at competitive prices.
Mr Sultan Ahmed Bin Sulayem, Chairman, DP World said that the ICTT facility at Vallarpadam will significantly reduce both time and costs for India's importers and exporters, improving their competitiveness and contributing to the further development of India's vibrant economy.
Mr Anil Singh, Senior Vice President and Managing Director, DP World Subcontinent said that the container trade in India has been growing every year by 15 per cent and the development of transhipment and gateway hub within the country will contribute to further growth. The capacity to handle one million TEUs annually at ICTT will be expanded in line with market demand, increasing to around 1.5 million TEUs in the second phase; once fully commissioned, the capacity will be around four million TEUs.
But he declined to comment on the shifting of operations from the existing Rajiv Gandhi Container Terminal (RGCT) to Vallarpadam saying that the matter is pending before the Kerala High Court. The court had directed the Cochin Port Trust to continue the operations in RGCT for another three months on a petition filed by trade unions.
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