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.
Mumbai/Kochi hit by traffic slump…
Mumbai and Kochi ports in India recorded net deficits of Rs1.82 bill (US$37 mill) and Rs 351.5 mill (US$7.2 mill) respectively during the April 2001March 2002 fiscal year. Reasons for the deficits included mounting administrative expenses, including payment for voluntary retirement by employees and pension benefits, as well as declines in traffic.
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