MSC in Fos2XL deal..

This process has been given the blessing of the Indian authorities, who have given permission for foreign direct investment to be increased from 49% to 100%. The money raised via the share issue is needed to fund construction of a new dedicated container terminal which will have an annual capacity of 1.3m TEUs.

MSC is rumoured to have agreed with the port of Fos to join forces with CMA CGM to operate two new container terminals as part of the Fos2XL scheme, committing to annual volumes of 500,000TEUs. P&O Ports will act as stevedore for both terminals.