Port firm DP World to pump in 2 bn

Global container terminal operator DP World plans to invest about 2 billion in Indian operations, top company officials said here today. DP World operates five container terminals in India. 8220;Port investment is crucial for growth of industries,8221; DP World senior vice president and MD Ganesh Raj said.

Pointing out the significance of investment in ports, Raj says, 8220;Before we took over the Chennai container terminal, it was witnessing a growth rate of 9 per cent per annum. But now it is clocking 22-23 per cent,8221; he said.

Besides Chennai, the company handles container terminals at Kochi, Mundhra, JNPT and Vishakapatnam. The terminals at Kochi and Vishakapatnam are DP World8217;s while Mundhra, JNPT and Chennai8217;s container terminal came under the company umbrella after its acquisition of P038;O last year.

Container terminal operators say that the tariff system needs to be changed. They say that authorities should use the 8220;market plus method8221; for fixing tariffs rather than the 8220;cost-plus method8221; they presently employ.