The Dubai Port Authority (DPA) has entered a join venture agreement with Indian transportation firm J M Baxi & Co to establish a $41 million cargo container terminal in the Visakhapatnam region, reported PTI.
The terminal will be a deep draft port capable of handling one million Twenty Feet Equivalent Units (TEU) and has operational target date set for February 2003. DPA will hold a 26 percent stake in the joint venture while J M Baxi & Co will own the remaining 74 percent shares.
DPA serves more than 125 shipping lines. Its facilities include cold stores and cool stores in the Jebel Ali Free Zone to a purpose-built berth for import of bulk aluminum oxide and expanded tanker jetties to handle the requirement for petroleum and petrochemical products.
The container storage yards at Jebel Ali terminal offer 988,907 square meters of storage space. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
