The terminal has been developed on a design, build, fund, operate and transfer (DBFOT) basis by PSA’s subsidiary Bharat Mumbai Container Terminals (BMCTPL) as part of a concession agreement that was originally signed in May 2014.
BMCTPL is set to operate the terminal for a period of 30 years under the arrangement.
The construction of the terminal’s first phase was completed with an investment of Rs47.19bn ($731m).
It will be capable of handling 2.4 million twenty foot equivalent units (TEUs) of cargo annually.
The second and final phase of the terminal is expected to add another 2.4TEUs of annual cargo capacity, bringing the total to 4.8TEUs.
Indian Prime Minister Narendra Modi initially laid the foundation stone for the project in October 2015.
India Minister of Shipping, Road Transport & Highway and Water Resources, River Development and Ganga Rejuvenation Nitin Gadkari said: “As committed by Hon’ble Prime Minister, Shri Narendra Modi, the first phase of the terminal is ready in a record time.
“Logistics play a key role in the development of the economy, and the government is committed to provide world-class logistics and infrastructure facilities so that trade flourishes.”
The new terminal will be able to handle the biggest container ships from a 1km-long quay, as well as cranes that can reach 22 rows wide or greater.
It will be connected to the dedicated rail freight corridor and will have the capacity to receive roughly 350 containers per rake.
Furthermore, the site will be capable of storing 1,600 refrigerated containers to facilitate the handling of agricultural and horticulture produce.
The second phase of the project will feature a 1,000m-long quay, approach trestles and 110ha of land reclamation, in addition to other back-up facilities.
The construction of phase two is scheduled to be completed by December 2022.