DP World invests $19m in Chennai

The Dubai-based DP World, which owns DP World Chennai, the company that operates a private container terminal at the Chennai port, proposes to invest $19.8 million in the Chennai subsidiary. The investment will be made to purchase two new quay cranes.
Ennarasu Karunesan, director and CEO, DP World Chennai said that two quay cranes will be imported from China and are likely to be commissioned by September. The terminal currently has seven quay cranes – five super post panamax and two post panamax – and 24 Rubber Tyre Gantry Cranes.
With this, the total investment in the container terminal at the Chennai port will increase to nearly $118.6 million since the private player took over in December 2001.
In 2008, the terminal handled 1.2 million TEUs, a 14 per cent increase over the previous year’s handling of 1.05 million TEUs. Among the global top 100 terminal, DP World Chennai is now ranked 83rd as against 87th last year.

Source: http://www.cargonewsasia.com