DP World secures terminal project with royalty bid
PORTS & SHIPPING

DP World secures terminal project with royalty bid

In a groundbreaking development for the port industry, DP World has stunned Deendayal Port Authority by placing an unprecedented royalty bid of Rs6,500 per TEU for the terminal project with a 2.19 million TEUs capacity.

Initially estimated at Rs. 4,243.64 crore, the terminal project had Deendayal Port Authority projecting a royalty range of Rs300 to Rs900 per TEU based on their contributions to the project.

Deendayal Port officials express astonishment, revealing that even a Rs1,000 per TEU royalty bid would have secured the project. Adani Ports and Special Economic Zone Ltd, the sole competitor last year, submitted a bid of Rs1,500 per TEU, deemed the most realistic.

January 2023 witnessed DP World surpassing all expectations with their record bid, securing the project and reshaping industry standards. The staggering Rs6,500 per TEU bid has not only awarded DP World the terminal project but also left an indelible mark on the landscape of port development.

In a groundbreaking development for the port industry, DP World has stunned Deendayal Port Authority by placing an unprecedented royalty bid of Rs6,500 per TEU for the terminal project with a 2.19 million TEUs capacity.Initially estimated at Rs. 4,243.64 crore, the terminal project had Deendayal Port Authority projecting a royalty range of Rs300 to Rs900 per TEU based on their contributions to the project.Deendayal Port officials express astonishment, revealing that even a Rs1,000 per TEU royalty bid would have secured the project. Adani Ports and Special Economic Zone Ltd, the sole competitor last year, submitted a bid of Rs1,500 per TEU, deemed the most realistic.January 2023 witnessed DP World surpassing all expectations with their record bid, securing the project and reshaping industry standards. The staggering Rs6,500 per TEU bid has not only awarded DP World the terminal project but also left an indelible mark on the landscape of port development.

Next Story
Infrastructure Transport

Kurla Gets New Elevated Harbour Line Station

Mumbai’s suburban railway network has taken a major step forward with the construction of a new elevated Harbour Line station at Kurla, part of the 5th and 6th line corridor. Over the weekend, Central Railway conducted a 14.5-hour mega block to divert tracks between Kurla and Tilak Nagar, clearing the way for the project.The tracks were shifted westwards to accommodate the elevated station, which will handle both regular Harbour Line services and trains originating or terminating at Kurla. Kurla, a key interchange hub, links the Harbour Line from CSMT to Navi Mumbai and Panvel with the Centr..

Next Story
Infrastructure Urban

India Plans 500 km Rail Expansion Along Northeastern Frontier

India is set to strengthen its northeastern frontier with the construction of 500 kilometres of new rail lines, including bridges and tunnels, to improve connectivity, accelerate logistics, and ensure military readiness along borders with China, Bangladesh, Myanmar, and Bhutan. The project is expected to cost Rs 300 billion ($3.4 billion) and is targeted for completion within four years.Though relations with China have recently improved, the infrastructure push reflects India’s long-term contingency planning amid a history of cycles of rapprochement and tension. The new rail corridors will c..

Next Story
Real Estate

BlackRock Leases Bengaluru Office for Rs 410 Billion

BlackRock Services India Pvt Ltd, the Indian arm of global asset manager BlackRock Inc, has leased 1.43 lakh sq ft of office space in Bengaluru’s Ashok Nagar for Rs 410 billion over a 10-year period, according to property registration documents accessed by Propstack.The commercial space, located in KNG Tower 1 and leased from IndiQube Space Limited, covers the ground floor and five additional floors. The monthly rent is set at Rs 2.72 billion at Rs 190 per sq ft, with an annual escalation of 5 per cent. A security deposit of Rs 21.75 billion has been paid. The lease transaction was registere..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?