The agreement for development of Tuna Tekra all weather deep container terminal, under the IMEC (India Middle East Europe Economic Corridor) initiative, is expected to reduce the trade time and deepen the economic and trade engagements among India, United Kingdom, Saudi Arabia, United States, UAE, European Union. Italy, France and Germany.
Deendayal Port Authority (DPA) and DP World signed a concession agreement to develop the container terminal at Kandla port. According to this agreement, DP World will develop the terminal with a capital investment of Rs 4,500 crore. The terminal will have a 1,100 meter long berth, and will be capable of seamlessly handling next generation vessels. After the completion the terminal will be able to handle 2.19 million TEUs per annum. This trade corridor is expected to reduce the freight time between India and Europe by around 40% compared to the time taken via the Suez Route.
Speaking at the foundation laying ceremony of the terminal, Prime Minister Narendra Modi said, “In this post-covid world, a new world order is taking place and the whole world is looking at India with new aspirations. IMEC will change the picture of world trade. This initiative will include next generation mega ports or international container transshipment port, Island development, Inland waterways development, multimodal hub development and other works. With initiatives like Sagarmala and PM GatiShakti, India is strengthening coastal infrastructure, increasing employment generation growth and ease of living for people in these regions.”
V R Reddy, Chief Engineer and Head of Deendayal Port Authority, said, “The development of the terminal will bring catalytic transformation to the landscape of Kutch region in the state of Gujarat. It will also create numerous direct and indirect job opportunities that in turn will lead to social and economic transformation of the region.”
Suresh Joseph, GM, DP World, said, “The container terminal will support the growth of the trailers, maintenance facilities, container freight stations, warehousing, value addition centers and many other services. This provides opportunities for local and national businesses to collaborate with the terminal. The conducive land use plan for the Tuna area by Deendayal Port Authority will help support the growth of the terminal to become a world class hub for maritime trade.”
During his virtual presence at the Global Maritime India Summit 2023, the third edition of the summit, Prime Minister also inaugurated 21 projects worth Rs 18,800 crore, launched Maritime Amrit Kaal Vision 2047 and more than 300 MoUs worth Rs 7.16 lakh crore were also signed.
It may be mentioned that Amrit Kaal Vision 2017 aims to develop 14 major carbon neutral ports, 14 Hydrogen/Ammonia hubs, 4X port capacity to 10,000 million tonnes with 100% PPP based development, and 5 smart ports. It also aims to increase inland water freight share to 12% from the current 6%, establish India as the leader in ship recycling, develop three maritime island cities to facilitate end-to-end activities and to develop various maritime professional services. The Amrit Kaal Vision 2047 targets to attract an investment of over Rs 20 lakh crore.