PM lays foundation stone of 4th terminal of Jawaharlal Nehru Port Trust in Mumbai
Prime Minister Narendra Modi has laid the foundation stone of fourth terminal of country’s largest container port – Jawaharlal Nehru Port Trust (JNPT) in Mumbai.
The ambitious project will augment JNPT’s present capacity situated off the financial capital’s eastern seafront by doubling it in next two years.
- The fourth terminal project will be carried out in two phases at estimated cost of 7,900 crore rupees and will be complete by the end of 2017.
- The project involves construction of two berths of 1 km in each of the two phases.
- It will be executed by Bharat Mumbai Container Terminal (BMCT), a subsidiary of Port of Singapore on a design, fund, built, operate and transfer (BOT) basis.
- The terminal will play important role in India’s Export-Import (exim) trade by doubling existing 4.5 million container handling capacity of JNPT to 10 million standard units.
The expansion of port seeks to make it in top 15 ports of the world as it is presently ranked 31st.
At present, JNPT operates one of the three terminals at the port while the other two are operated by DP World and APM Terminals.
Categories: Business & Economy Current Affairs 2017