Home Energy News Port & Dam News DP World incorporates Hindustan Ports for India operations

    DP World incorporates Hindustan Ports for India operations

    511

    Dubai based DP World has proposed to transfer all its local assets in India to a newly incorporated company named Hindustan Ports. The new company has already obtained the Foreign Investment Promotion Board’s (FIPB) approval to bring in Rs 440 crore as equity investment in a new project at the Jawaharlal Nehru Port, The restructuring will help the company to make their overall management easier and help route investments directly instead of being routed through Mauritius. The holding company will become a strong entity that could independently handle diversification of risks in earnings at a weak terminal. DP World is the third-largest terminal operator in the world by volume and has five operating terminals in India at JNPT, Mundra (Gujarat) Chennai, Kochi and Vizag. The company holds 80 percent stake at Kochi and 26 percent in Vizag. DP World has invested more than $1 billion in India. The recently awarded 330-meter berth at JNPT will have an initial capacity of eight lakh TEUs. Once this project is completed, expected in 2015, the company’s installed annual container handling capacity in India will exceed five million TEUs.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here