DP World Cochin awards civil works contract for first phase of India's largest terminal

This marks an important milestone in the development of the modern marine terminal on the island site of Vallarpadam, off Cochin.

The value of the contract is estimated to be approx $150m.

Mr. Ganesh Raj, Senior Vice President and Managing Director of the DP World Subcontinent region, said, "In awarding the contract, we have reached a very significant milestone in this important project. Vallapardam will be a key facility in our network of 42 terminals globally, but it will also have a positive impact on the economy of the region, stimulating trade and creating jobs. We look forward to working with the Simplex Consortium and to the smooth and timely completion of the project. DP World is committed to Cochin in the long term, and to meeting the growing needs of our Indian customers."

Mr. Amitabh Mundhra, Director, Simplex Infrastructure said, "We are honored to be a part of the DP World team on the Vallarpadam project. We are fully committed to delivering this prestigious terminal project to the highest international quality standards."

The preliminary design of the project, developed after detailed testing, was approved by the Cochin Port Trust in November 2006.

Subsequently, DP World Cochin issued the tender in June 2007. Upon close of the tender on Aug 29th, Royal Haskoning, the consultants to the ICTT project conducted an in-depth evaluation of the technical capabilities of the four Indian bidders in close liaison with DP World, and the decision was taken to award the civil works contract to Simplex Consortium.

Construction is expected to begin in December 2007 and the maximum period for the construction is 24 months. This first phase of development involves the building of 600m of quay, an on-dock railhead serviced by rail-mounted gantry cranes, 30 hectares of yard, and the acquisition of six Super Super Post Panamax cranes designed to handle some of the largest vessels afloat today. Phase 1 of the terminal will be completed by the first quarter of 2009 and will have the capacity to handle one million TEU.