D P World to invest Rs 25,000 cr in Kulpi port, SEZ

Kolkata, Jan 7(UNI) Brunei based D P World will invest Rs 25,000 crore for development of Kulpi port and SEZ in 25,000 acres of land in South 24 Parganas, West Bengal.

Speaking to mediapersons, state Chief Minister Buddhadeb Bhattacharjee said here today that the port would be developed in 700 acre and the rest for the SEZ. The project would be completed three years after construction starts.

DP World chairman Sultan Ahmed Bin Sulayem said here today after a meeting the Chief Minister that they would start the project as soon as the land is handovered to them.

Dubai World is keen to invest in the Kulpi Port which would be developed by Dubai World's marine terminal operating company DP World, Mr Sulayem said. Dubai World is the holding company of Dubai Port World (DP World) which along with the Keventer Group is promoting the Kulpi minor port in West Bengal.

Bin Sulayem visited Kolkata at the invitation of the West Bengal government and met chief minister Buddhadeb Bhattacharya and his top aides to discuss among other things the Kulpi Port project.

He was accompanied by DP World CEO Mohammed Sharaf and other senior officials.

''We are also looking forward to exploring other investment opportunities in India as part of our global growth strategy'', he said. The company is also planning to explore tea toursim potential of the state and visit darjeeling for that purpose.

Bin Sulayem's visit to West Bengal comes after a high-level delegation from the state visited Dubai in early December, following which the chief minister extended a personal invitation to the chairman of Dubai World.

The Dubai World team's two-day visit included a tour of the Kulpi port, 60-km downriver from Kolkata, and other key sites, including the hill station of Darjeeling.

The DP World development of Kulpi Port will include all-weather port facilities, a ship-breaking yard, and an industrial park, all integrated in a single hub.

The marine terminal will have a 450-metre quay and handling capacity of 650,000 TEU. The first phase of the port development will be completed at the end of 2009.

The new port will primarily target containerised cargo but will also handle general cargo, and will also contribute to creating jobs in the Indian state.

The special economic zone and port will be spread over 3,000 acres in total of which 300 acres will be used for the port and allied backup facilities and 2,700 acres for the SEZ.

BPL has been entrusted with the job of building the port and an adjacent SEZ. DP World holds 44.5 per cent in BPL. Another 44.5 per cent in BPL is held by Indian promoters. The balance 11 per cent is held by the West Bengal Industrial Development Corporation (WBIDC).

UNI