DP World has reportedly reached a deal to sell its minority stake in the Visakha Container Terminal (VCT), in the eastern Indian port of Visakhapatnam, to the local joint venture partner.
Mumbai-based J M Baxi is now set to gain full control of VCT by acquiring DP World’s 26% ownership for an undisclosed amount.
Visakhapatnam was one of six terminal concessions under DP World’s Indian network. The other active locations are Nhava Sheva/JNPT (two terminals), Mundra, Chennai and Cochin.
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https://container-news.com/dp-world-to-sell-its-stake-in-india-east-coast-terminal/