India aims to build seven ports by 2017

8/24/2011 10:45:13 AM

India aims to construct seven new ports for US$7.6 billion by 2017 to support the nation's plan to more than triple merchandise exports, reported National Post. "The government has to lead the way in creating port capacity given the growth in trade," Rakesh Srivastava, joint secretary at the Ministry of Shipping, said. "Private sector is welcome, but the government won't give up its responsibility." About two-thirds of the funds for the new facilities will be raised from the private sector, he said. APM Terminals, the container-terminal arm of A P Moeller-Maersk and Dubai-based DP World are among the companies that have invested in ports in India to benefit from a surge in trade.   Cargonews Asia

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