NEW DELHI, Aug 25 Reuters Dubaiowned ports giant DP World RICRICDPWRD.UL will invest around 510 million to build a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday.

It will enable the delivery of trade opportunities by connecting northern, western and central India with global markets, Sultan Ahmed Bin Sulayem, who is also DP World39;s CEO, said after the signing of an agreement between the Deendayal Port Authority and DP World officials.

The Indian government earlier this year approved a plan by Hindustan Infralog Private Limited, a joint venture between DP World and the stateowned National Investment and Infrastructure Fund, to develop the terminal on a BuildOperateTransfer BOT basis.

DP world, which operates in 73 countries, last week reported a nearly 10 fall in firsthalf profit to 651 million despite a 13.9 yearonyear rise in revenue to more than 9 billion.

The new terminal, which should be completed by early 2027, will boost container traffic in India and reduce the cost of logistics, company officials said.

DP World operates five container terminals in India two in Mumbai and one each in Mundra, Cochin and Chennai with a combined capacity of about 6 million twenty foot equivalent units TEUs, giving it a market share of 28 of container traffic volume in the country.

The new terminal will take the combined capacity to 8.19 million TEUs, a company statement said.

DP Worlds Indian port and terminal…