The cabinet committee on infrastructure has approved the terminal expansion at Jawaharlal Nehru Port Trust (JNPT) in Navi Mumbai on a design, build, finance, operate and transfer (DBFOT) basis, expected to cost of Rs6696 crore.
The urban development minister, Jaipal Reddy told the media in New Delhi yesterday that the cabinet committee on infrastructure has approved the development of the fourth container terminal at JNPT on a DBFOT basis.
The JNPT, one of the busiest port in India and one of the 12 major ports under the ministry of shipping, will be developed through the public private partnership route, Reddy said.
The first phase of the terminal is expected to be completed within three years from the date of signing the concession agreement, while the Phase-II will be commissioned in two years.
The committee also approved a standalone container handling facility at JNPT on a DBFOT basis at an estimated cost of around Rs600 crore.
The new terminal will have the capacity to handle more than 4.8 million 20 feet equivalent units (TEUs) annually, said Reddy.
The JNPT, also known as Nhava Sheva port, covers an area of around 10 kms in Navi Mumbai and handles 65 per cent of India's container traffic.
The committee also approved upgrading a coal handling facility at Visakhapatnam Port in Andhra Pradesh at an estimated cost of Rs441.1 crore.