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DP World rubs off reports of Vallarpadam, Kochi terminal pull out
DUBAI Ports World, the holding company of India Gateway Terminals Ltd that operates Vallarpadam International Container Transshipment Terminal has brushed off media speculation that it is considering abandoning its Kochi project amid criticism by politicians of underperformance, emphasising the company is "committed" to its Indian operations.
Said DP World vice president Anil Singh: "There has been media speculation about our growth and operations. We work consistently at fostering growth and do not comment on or encourage such speculation."
The statement comes as Mr Singh moved to defend Vallarpadam International Container Transshipment Terminal, which many politicians have accused of being underperforming.
He was quoted as telling Indian media that contrary to public perception, the terminal was doing exceedingly well, with plans to undertake the second phase of its expansion within one to two years.
Vallarpadam Terminal, which is only into the second year of operation, handles 350,000 TEU. "This year we are confident of achieving 450,000 TEU," Mr Singh said.
The terminal currently has a total annual handling capacity of 900,000 TEU, with plans to begin the second phase of expansion when cargo traffic reached 700,000 TEU, he revealed.
Cochin Port Trust also said in a statement that DP World had not offered to quit its business in Kochi. DP World and the Indian government have invested a total of US$400 million in the terminal.
Said DP World vice president Anil Singh: "There has been media speculation about our growth and operations. We work consistently at fostering growth and do not comment on or encourage such speculation."
The statement comes as Mr Singh moved to defend Vallarpadam International Container Transshipment Terminal, which many politicians have accused of being underperforming.
He was quoted as telling Indian media that contrary to public perception, the terminal was doing exceedingly well, with plans to undertake the second phase of its expansion within one to two years.
Vallarpadam Terminal, which is only into the second year of operation, handles 350,000 TEU. "This year we are confident of achieving 450,000 TEU," Mr Singh said.
The terminal currently has a total annual handling capacity of 900,000 TEU, with plans to begin the second phase of expansion when cargo traffic reached 700,000 TEU, he revealed.
Cochin Port Trust also said in a statement that DP World had not offered to quit its business in Kochi. DP World and the Indian government have invested a total of US$400 million in the terminal.
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