J M Baxi Acquisition

J M Baxi Ports & Logistics Ltd, a unit of the Mumbai-based J M Baxi Group, has gained complete – 100 per cent – control of the Visakha Container Terminal following the purchase of the 26 per cent stake held in the terminal by D P World. The terminal has recently performed well handling 512,000TEU in FY22, up from 48,100TEU in FY21. Recent expansion works have lifted capacity from 600,000TEU/yr to 1,300,000TEU/yr.