India to invest $25 billion

Indian prime minister Atal Bihari Vajpayee revealed that $25 billion is to be invested in domestic ports as part of a series of upgrading and construction projects, with investment sought from European companies.

A further 416,000TEUs will be catered for by rail with capacity for handling 30 train arrivals daily, giving a total capacity of 500,000TEUs.

“We are about to launch a major initiative to build and upgrade a necklace of modern ports, supporting international and coastal shipping, ” he said, adding that India has 12 major state-run ports and a further 148 minor ports run by provincial authorities.

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