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India's biggest container port cuts growth forecast by 10%

India's biggest container port cuts growth forecast by 10%

Mumbai: The Union government-owned Jawaharlal Nehru Port (JNP), India's biggest container port, has pruned its estimate for growth in container traffic by 10 percentage points as the global financial crisis cuts demand for goods.

"This year the growth in containers will be lower by 10 percentage points. We expect to grow by 12-14% this year compared to 23% last year," said an official looking after port operations.

JNP, located at Nhava Sheva near Mumbai, handled 2.79 million teu in the period between April and November, registering a growth of 6.29% compared with the same period last year.

JNP handles around 60% of India's container cargo of around 7 million teu a year. [17/12/08]

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