Eyeing China, India Pours Billions into New Shipping Facilities
10th August 2016
“A major part of transshipment is happening at nearby ports. We can win some of that business.”
An Indian conglomerate has started building the country’s first transshipment port, conceived 25 years ago, and the government will construct another $4-billion facility nearby to create a shipping hub rivaling Chinese facilities in the region.
New Delhi will grant billionaire Gautam Adani 16 billion rupees ($240 million) so-called “viability gap” funding to help the new port at Vizhinjam, on India’s southern tip, win business from established hubs elsewhere in Asia.
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