JNPT to seek bigger profit share from DP World
Jawaharlal Nehru Port Trust (JNPT), which had invited bids for a new container berth at Nhava Sheva, will seek a larger share of profits from DP World, the lone bidder for the project, reported The Economic Times.
The board of state-run Jawaharlal Nehru Port Trust (JNPT), which operates the country's largest port (Nhava Sheva), will ask Dubai Ports World to increase revenue share to 35-40 percent from the 27.5 percent it has offered.
"They are already paying us close to 38 percent revenue share for the terminal that they are operating at the port.
“Since they are the lone bidder, we want them to increase the offer to at least what they are currently paying," a board member of JNPT said.
JNPT's proposed container berth will handle more than 800,000 TEUs per annum and help reduce congestion at the port.
Container ships entering the country's overcrowded ports face long turnaround time, raising cost of business for shipping liners and exporters.