Gammon Infra to start MbPT terminal by 2012-end

Gammon Infrastructure Projects (GIPL) hopes to commission its offshore container terminal port project at the Mumbai Port Trust (MbPT) by the end of next year, according to the company. The Rs 1,016-crore Indira Container Terminal (ICT) was to be completed this year. Though ICT is presently a 50:50 joint venture between GIPL and Spain's Dragados-SPL, GIPL is in the process of raising its stake to 74 per cent. According to the agreement between the two companies signed in early 2010, GIPL will buy the remaining 26 per cent from Dragados three years after the commercial operati­ons begin. ICT will have a capacity of 1.2 million TEUs.