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P&O Ports signs for Bengal box terminal
01 Sep 2004
The international terminal operator that has shown most commitment to India is P&O Ports and it has just reaffirmed this by securing the rights to become an investor in Bengal Port Ltd (BPL). In early August, according to a P&O Group announcement, P&O Ports signed development and concession agreements for a port and special economic zone property development in West Bengal at Kulpi, 45 miles downriver from Kolkata (formerly known as Calcutta).
The project involves the construction of both container terminal and multipurpose berths. P&O has the right to acquire 69% of Kulpi Port Company to which BPL will assign a 50-year concession to develop, operate and maintain the port. Two new berths are envisaged initially with additional capacity to be developed in line with demand.
