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Dubai-based DP World Ltd will build a $200 million shipping container terminal in Mumbai, the company announced Thursday. DP World said it has received a letter of award from Jawaharlal Nehru Port Trust to build and operate a terminal at Nhava Sheva, Mumbai. It will be operational in 2015.

The terminal will have an annual handling capacity of 800,000 TEUs (20 foot equivalent container units).

The new quay has been awarded for a 17 year concession period and will be equipped with four rail mounted quay cranes and 12 rubber tyred gantry cranes.

Mohammed Sharaf, group CEO of DP World, said: "We thank the government of India and the Jawaharlal Nehru Port Trust for awarding us this project. India is one of our most important markets and we are committed to supporting its growth over the long term."

"We currently operate five Indian terminals (in Tamil Nadu, Gujarat, Mumbai, Andhra Pradesh and Kerala), and our Asia Pacific and Indian subcontinent region was the main driver of our volume growth in the first six months of 2012," Anil Singh, managing director, DP World subcontinent, said.