DP World receives FDI approval for JNPT Container Terminal project

DP World, will make an equity investment of Rs 440 crore in the recently awarded container terminal project at Jawaharlal Nehru Port.

The Foreign Investment Promotion Board has cleared the investment proposal of Hindustan Ports Pvt Ltd, a company newly constituted in India by DP World, to implement the project.

The cost of the project is originally estimated at Rs 600 crore, is expected to exceed Rs 900 crore.

The berth will have the capacity to handle eight lakh TEUs per annum, which could be augmented to one million TEUs, with better equipment and deeper draught.