A.P. MOLLER/MAERSK GROUP ACQUIRES STAKE IN INDIA PORT
APM Terminal Holdings Ltd. And Maersk India Pvt. Ltd., both units of the Danish A.P. Moller/Maersk Group, jointly acquired a 14-percent equity stake in Gujarat Pipavav Port Ltd., the first private-sector multipurpose port in India.
The port, which handled 2 million tons of bulk, liquid and container cargo in 2000, was developed at Pipavav in Gujarat by Gujarat Maritime Board and Sea King Infrastructure Ltd.
The other major shareholders in the port are PSA Corp., Singapore; CDC Financial Services: and Industrial Development Bank of India.
The A.P. Moller/Maersk Group has container terminal operations in more than 30 ports worldwide, and will participate in the operational management of GPPL as part of the equity stake.