The acquisition gives MSC presence at Dakshin Bharat Gateway Terminal secures it a “growth-oriented” container-handling foothold on India’s east coast.
Bollore Africa Logistics holds 49% stake in Dakshin Bharat Gateway Terminal – one of the two terminals at V.O. Chidambaranar Port Authority (VOC Port), better known as Tuticorin, near Chennai, while India Ports & Logistics Pvt Ltd holds the major (51%) stake in the terminal.
Opened in 2014, with a capacity of 600,000 teu a year, DBGT moves around 75% of container volumes via VOC.
MSC is already a joint-venture partner in the Adani International Container Terminal (AICTPL), the busiest in Adani Group’s flagship Mundra Port on the west coast of India, and the race to expand its presence in the Indian port landscape is not likely to stop there, as Bolloré is a majority partner in a consortium that has bid on VOC’s new public-private-partnership project to convert a bulk terminal into a container terminal. The winning bidder is expected to be announced shortly.
About 40% of the cargo volumes handled at the Dakshin Bharat Gateway Terminal are brought by MSC and the terminal feeds the majority of the transhipment cargo from India to the Port of Colombo.
Source: Seatrade Maritime News