PSA International has decided to sell its interests at India’s Port of Kolkata, where it has a large share in a container terminal facility at the port’s complex.
According to the Journal of Commerce, PSA owned a 49% stake in ABG Kolkata Container Terminal, operated by domestic infrastructure group ABG Infralogistics.
Previously, PSA had signed a 10-year contract with Kolkata Port Trust (KPT) to operate five berths in the harbour.
PSA, the largest terminal operator in the world, currently has several operations in India, including with Chennai International Terminals, a second box facility at Chennai Port, and PSA Sical Terminals.
The Singaporean terminal operator also holds an operating concession for a 2.4 million TEU capacity container terminal in Nhava Sheva Port.
The first phase of the project has just begun at Nhava Sheva Port and will include a 16.5m depth, a 1,000m quay and a 90ha back-up area.
The US$1.3 billion project is expected to start operations in early 2018.
PSA to Cash-In on Indian Terminal. (Source: Wikipedia)