India plans to set up a consortium with equity participation by public sector enterprises to bid for operating overseas port assets, senior officials told ET. Stakeholders in Bharat Global will be Indian Port Rail & Ropeway Corporation, Sagarmala Development Company and Shipping Corporation of India (SCI), they said.

India will also operationalise Bharat Container Shipping Line as a vertical within SCI to weather global trade disruptions, officials said. "The consortium will be named on the lines of Bharat Global Ltd. It will replicate the Chabahar port model in other strategic locations, a senior official told ET.

India is actively exploring opportunities to enhance maritime presence and trade connectivity, after signing a 10-year bilateral pact to operate Chabahar port in Iran. India also has a presence in Myanmar through Sittwe port, built under the Kaladan Multi-modal Transit Transport Project. Both Sittwe and Chabahar are handled by India Ports Global.

Source: ET Infra. Com

#theshippingtribune #latestnews #shippingnews #dailynews #Maritimenews #shippingindustry