PSA International is seeking a 49 percent share in a container terminal in India's Kandla Port, according to a report in the Economic Times.
In the northwest state of Gujarat, Kandla is a growing multiuse port that primarily handles liquid, breakbulk and dry cargoes. Its container volume is rising but it is already India's busiest port in terms of cargo tonnage, having handled more than 59 million tons of cargo from April 2007 through February 2008, according to statistic released this week from India's shipping ministry.
The deal is said to be worth $60 million from PSA, which is already on the Indian scene at the ports of Chennai and Tuticorin. It is also involved in a joint venture terminal business at the port in Calcutta.
The current operator of the container terminal at Kandla, ABG Infralogistics, has a 30-year concession. |
