Singapore's PSA, the international container terminal operator, has sought permission from the Indian government to invest US$60 million in ABG Kandla Container Terminal on the northwest coast of the subcontinent, reports The Economic Times of India.
By taking 49 per cent, the Singapore giant would gain a larger share in the Indian market with the deal as it already has stakes in container terminal companies handing Tuticorin and Chennai. PSA is also entering the container terminal business in Kolkata through another venture.
ABG Kandla Container Terminal, owned by ABG Infralogistics, runs berths 11 and 12 at Kandla port, having secured the right to do so for 30 years under a build, operate and transfer (BOT) contract.
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