India expands foreign port presence with new consortium
NewsIndia is forming a consortium to acquire and develop foreign ports, with IPGL managing operations, IPRCL handling infrastructure, and SDCL overseeing financing.
Indian ports up and down
According to figures released by the Indian Ports Association (IPA), India’s major ports recorded a 7.5 per cent growth in cargo traffic to 85.7 mill tons in the current financial year’s first quarter ended June 30, but the figure was 2.3 per cent below the government target of 87.8 mill tons set for the period. During the same period last year the ports handled 79.7 mill tons.
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