Home » India to award $3.8 bn worth port projects

India to award $3.8 bn worth port projects

Ports & Shipping
August 1, 2011August 1, 2011
India to award $3.8 bn worth port projects
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India is set to award 23 contracts for port expansion worth $3.8 billion this fiscal year. Port construction has suffered from chronic funding shortages with the private sector unwilling to invest and the government unable to meet the rising demand for berths in one of the world's fastest-growing economies and exporters. Cargo vessels docking in India's overcrowded ports grapple with lengthy waiting times, raising business costs and taking some of the shine off India's status as a top emerging market destination for investors.

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