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Ports | July 06, 2012
#21877

ABG plans to bid for terminal project

ABG Infralogistics is reportedly planning to bid for the proposed terminal project with a single berth of 330 metre at Jawaharlal Nehru Port Trust (JNPT).
 
 The terminal would increase container capacity at JNPT by another 0.8 million tonne per annum, reports indicate. 
 
 Earlier, ABG had, in consortium with PSA, emerged as the winning bidder with the highest revenue share, at 50 percent for the fourth terminal project at JNPT. 
 
 ABGis a local partner of Singapore-based Port of Singapore Authority (PSA).The company plans to bring in PSA as a stakeholder in its Kandla project and pick up a stake in PSA-operated Chennai Container terminal project.    
 
 Further, based on preferential shares in ABG Kandla terminal allotted to PSA in 2009, PSA is expected to convert these to equity this year. With this, PSA will hold 49 percent stake in the terminal project.
 
 Currently, the terminal is a wholly owned subsidiary of the ABG Group. ABG Infralogistics is also expected to pick 26 percent stake from PSA in the PSA-operated Chennai Container terminal project. 

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