December, 04th 2007
Dragados SPL moves into India’s ports sector
Wins a container terminal in Mumbai - the port with the highest traffic in India
Set to invest 166 million euros in developing a new container terminal with its partner, Gammon India Ltd.
The company is positioning itself in the Asian countries with the greatest growth in trading activity with its presence in China and India
Madrid, 4 December 2007. Dragados Servicios Portuarios y Logísticos (SPL), a company belonging to the ACS Group and specialised in port logistics, has been awarded the construction and management of a container terminal in the centre of Mumbai for 30 years. Mumbai is the port with the greatest maritime traffic in India. It represents the gateway to this Asian country with its growing economic and trading activity.
Dragados SPL and its local partner, Gammon India Ltd, have been awarded the contract to build and equip the new container terminal for the port of Mumbai after a tender process called by the port authorities for the Indian financial capital and subsequent ratification by local government. Anticipated investment in the project totals 166 million euros.
The new terminal will have capacity to move 1.2 million TEU type containers and will be completed in three years when it will begin operations. However, the agreement includes Dragados SPL and its partner immediately starting a five year period of management of an existing terminal in the port where 250,000 containers per year are currently handled.
Mumbai (formerly known as Bombay) is the capital of the state of Maharashtra and is considered to be the country’s financial capital. It is the base for India’s most important companies as well as its main banks, financial organisations and insurers, and has significant industry involving chemicals and derived products. In fact, the increase in trade exchanges between Spain and India led the Spanish Ministry of External Affairs to open a consular office in the city in June 2006 at Consulate General level.
India and China
With its move into India, added to the position it already has in China with the Jing-Tang port terminal, Dragados SPL has acquired an outstanding position in the port logistics sector in the Asian market and, more specifically, in the two economies with the greatest growth in the region in terms of both gross domestic product and trading exchanges with Europe and the United States. The anticipated growth in India’s GDP is 10% for this year and the regions with the greatest commercial maritime traffic are the north and east of the country, where Mumbai is located.
In this way Dragados SPL continues to pursue the internationalisation strategy which has led to it boasting terminals in Iquique (Chile), Puerto Caucedo (Dominican Republic), Sao Francisco do Sul (Brazil) and Setubal (Portugal) as well as those in China and India.
Overall, in the last year, Dragados SPL managed 4.5 million TEUs, 1.5 million vehicles and 11 million tonnes of bulk and general cargo in its terminals. As well as leading the Spanish logistics and port operations markets, this places it among the world’s largest port operators. The company offers port handling, maritime agency, combined transport and specialised logistics services.