UK firm builds Indian port

UK firm builds Indian port

BOMBAY (AFP): A British shipping firm has bagged a US$1
billion-dollar contract to build India's deepest and most modern
sea port in the western Indian state of Maharashtra.

The all-weather port will be put up at Wadhawan, 126
kilometers (78 miles) north of Bombay, by P.O. Ports Australia, a
subsidiary of P.O. Steam Navigation UK.

P.O. Ports Australia won the contract through global
competitive bidding.

The contract has been given on a build-operate-own-transfer
basis. P.O. Ports Australia would be licensed to operate the port
for 30 years, after which the ownership would be transferred to
the state government.

The project would be the single largest private investment in
an Indian seaport. It would begin operation in 1999.