Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

DP World completes buyout of Chennai Container Terminal

DP World completes buyout of Chennai Container Terminal

Dubai: DP World has announced its 100 percent takeover of the container terminal in India's Chennai Port.
The United Arab Emirates (UAE)-based company said in a statement that it bought out the stakes of Chettinad Logistics (20 percent) and the Jakari Group (5 percent) in Chennai Container Terminal (CCT).
"We value the long relationship with both partners and the company remains committed to realising its objective of expansion of the terminal in the near future," DP World senior vice-president and chairman of CCT Ganesh Raj said.
CCT chief executive Ennarasu Karunesan said the move for 100 percent ownership reflected "the great commitment and belief by DP World in the terminal development in particular and to the employees of Chennai Container Terminal".
The CCT is the oldest container terminal in the subcontinent and the largest in India's east coast. [1/6/08]

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.