India Unveils $4.3bn Port Expansion Plan

22 August 2010 (Last Updated August 22nd, 2010 18:30)

The Ministry of Shipping in India has announced a INR200bn ($4.3bn) plan for 25 port projects which will be awarded under a public-private-partnership scheme this year. The ministry said the proposal includes the construction of mega-container terminals at Chennai Port and the conversion

The Ministry of Shipping in India has announced a INR200bn ($4.3bn) plan for 25 port projects which will be awarded under a public-private-partnership scheme this year.

The ministry said the proposal includes the construction of mega-container terminals at Chennai Port and the conversion of a berth for a container terminal at Tuticorin Port.

The ministry said it expects Singapore, Dubai and other Gulf countries to invest in the projects.

Projects at Paradip and Ennore near Chennai have already been awarded to Sterlite-Leighton and Eredene Capital consortium, according to economictimes.com.