PSA ups stake in Kolkata terminal

Terminal operating giant PSA International has purchased a 49 percent stake in a container terminal in the Port of Kolkata on India's northeast coast.

According to a report in the Economic Times, Singapore-based PSA beat out European ocean carriers MSC and Zim for the stake in the terminal. PSA already had a 12 percent stake in the terminal, operated by ABG Infralogistics, and as part of the deal will also take a stake in ABG's container terminal in Kandla, in the western state of Gujarat.

PSA already has a strong presence in India, with container terminals in Chennai and Tuticorin, and Hazira, an up and coming port also in Gujarat.

Source:American Shipper