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.
Four Indian states – Andhra Pradesh, Kerala, Tamil Nadu and Gujarat – have approached the central government with proposals to invest at least Rs100B (US$2B) to develop ports, signalling an end to the standstill in the sector that has been dogged by environmental and security concerns.
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