Mumbai Port Trust (MPT) has transferred control and running of the container terminal to Gammon-Dragados, a consortium consisting of Gammon India and Dragados SPL of Spain.
Each company has floated a special purpose vehicle called Indira Container Terminal in which each own 50 per cent, reports the Press Trust of India. The consortium starts work on the INR1.2 billion (US$28.6 million) terminal, to be completed in three years.
"Mumbai Port started handling containers way back in 1968," said MPT chairman Rani Jadhav. "The plan for a new container terminal was conceived in 1990s and now it has finally taken off. We are in the right place at the right time."
The consortium will also provide dredging and navigational aids, filling building two docks and laying of tracks for a rail container depot.
"The Mumbai region, which includes Mumbai Port Trust and JNPT, handles 60 per cent of the country's container traffic" and once the offshore terminal is in place it will handle 1.5 million TEUs," Ms Jadvah said.
Each company has floated a special purpose vehicle called Indira Container Terminal in which each own 50 per cent, reports the Press Trust of India. The consortium starts work on the INR1.2 billion (US$28.6 million) terminal, to be completed in three years.
"Mumbai Port started handling containers way back in 1968," said MPT chairman Rani Jadhav. "The plan for a new container terminal was conceived in 1990s and now it has finally taken off. We are in the right place at the right time."
The consortium will also provide dredging and navigational aids, filling building two docks and laying of tracks for a rail container depot.
"The Mumbai region, which includes Mumbai Port Trust and JNPT, handles 60 per cent of the country's container traffic" and once the offshore terminal is in place it will handle 1.5 million TEUs," Ms Jadvah said.