India’s port privatisation plans scuppered again

Mumbai: India’s stuttering efforts to implement a port privatization plan have once again been thrown into turmoil with Jawaharal Nehru Port Authority (also known as Nhava Sheva) deciding to postpone the tender for a fourth 4.8m teu container terminal. PSA International are reported to have baulked at signing the final concession agreement with the port authority over fears of high costs. PSA and its local partner, ABG Ports, had won the tender worth $1.5bn a year ago, agreeing to a 50.8% share of revenue as annual royalty to the local port authority. A new tender will be issued soon the authority said this week.  [20/09/12]

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