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India looks for $13bn to fund Sagar Mala port upgrade programme

Vibrant GujaratHaving committed itself to spending $180bn to modernise the country’s ports and surrounding infrastructure by way of its Sagar Mala port expansion initiative, the Indian authorities have been wooing visitors at this week’s biennial three-day Vibrant Gujarat investment summit with a series of presentations aimed at raising $13bn to fund (more…)

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Malaysia looks to Strait of Malacca for slice of Maritime Silk Route action

Ships in Strait of MalaccaThe Malaysian government is looking for investors to back its plans to develop a giant new deep-sea port and industrial city at Carey Island, some 70km south west of Kuala Lumpur on the Strait of Malacca, one of the world’s busiest shipping channel – and one which is central to China’s ambitions to develop the Maritime Silk Route Economic Belt.
The port itself (more…)

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Evraz considers offers for Nakhodka Sea Port in effort to reduce debts

Nakhodka Sea PortIn an attempt to reduce its mounting debts, the Russian steel and mining conglomerate EVRAZ has put its facilities at the Far Eastern Nakhodka Trade Sea Port up for sale, it was reported yesterday, and has already received offers from around a dozen Russian, Kazakh and Chinese companies. The company has valued the port at $260m.
NakhodkaFounded in 1947 in Nakhodka Bay some 200km south-east of Vladivostok, the port is on one of the easternmost spurs of the Trans Siberian railway and as such is a key staging post for the movement of goods between Asia and Europe. It has the capacity to unload up to 500 rail wagons a day; each of its 16 berths can accommodate vessels of up to 230m in length and 32m in width; and it comes with 300,000m² of warehousing premises. Last year, the port handled 9.2m tons of cargo.
Chinese steel millAn integrated steel, mining and vanadium business with operations in the Russian Federation, Ukraine, USA, Canada, Czech Republic, Italy, Kazakhstan and South Africa, the LSE-listed EVRAZ is among the top steel producers in the world, but has been hit by the collapse in the price of steel, largely caused by Chinese over-production. Earlier this year it announced that it was planning to reduce its debt by as much as $1.5bn, but at the time ruled out the possibility of selling off any of its assets. 

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Deutsche Bahn agrees to test drive new South West transport corridor to Iran

Deutsche BahnDeutsche Bahn, one of the world’s largest transport companies, has agreed to test drive the new South West Transport Corridor linking India, Iran and other Gulf states to Europeby the end of November. (more…)

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Japan looking to hook Hokkaido up with Trans-Siberian Railway

Sakhalin and HokkaidoJapan is considering joining forces with Russia to build an extension to the Trans-Siberian railway to the islands of Sakhalin and Hokkaido, (more…)

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Swiss win Aprin dry port contract as Iran’s non-oil exports boom

North_South_Transport_Corridor_(NSTC) (1)Aprin dry port: The Swiss-based transport and logistics multinational Transinvest Holdings has signed a 25-year contract with Iran’s Perse Transport Bar for the development of a 700-ha dry port some 20 km south of Tehran. On completion, (more…)

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Putin keeps South Stream pipeline on agenda ahead of Athens visit

Putin and TspirasSouth Stream: Russia is still interested in working out a way of building a pipeline along the bed of the Black Sea as a means of transporting gas to Europe via the Balkans, President Putin told the Greek newspaper Kathimerini in an interview published today to coincide with his visit to Athens.
“Gazprom (more…)

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Sime Darby to float Weifang Port

Sime Darby MD Timothy Lee and Weifang port expansionThe Malaysian-based Sime Darby multinational conglomerate this week announced its intention to float Shandong Province’s Weifang Port on one of China’s stock exchanges as it looks to monetise its assets and maximise its returns. Sime Darby acquired the port from the authorities in Shandong in 2005 and has since invested around $300m in turning it into a profitable mid-sized seaport and increasing the number of its berths from four to 15. Its current $200m, 5-year expansion plans will see a further 8 berths added by the end of 2017 and its number of customers rise to 500.
In March 2014, it set up the Weifang Port Services Co in a joint venture with the Weifang Port Company and the Shandong Hi-speed Transport & Logistics Investment Company to oversee the construction, management and maintenance of the port’s the sea channel, anchorage and other elements of its infrastructure.
Shandong ProvinceAnnouncing the company’s decision to list the port, Sime Darby MD Timothy Lee claimed that the port “had been profitable since day one of the takeover”, and was recognised as one of the most efficient and cost-effective ports in China. Last year it posted pre-tax profits of $13.7m on revenues of $45.76m.

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Japan and India look to team up to develop Chabahar as logistics hub

ChabaharJapan and India are planning to team up to help develop Iran’s southeastern Chabahar port as a regional logistics port, according to Iran’s PressTV news agency. Tokyo is keen to build stronger ties with Tehran, the agency claims, with the Japanese Prime Minister Shinzo Abe hoping to (more…)

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29 Indian coastal economic zones expected to boost exports by $110bn

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Port of Tianjin expecting 20% rise in traffic thanks to FTZ status

Tianjin PortThe north-east Chinese port of Tianjin – the world’s fourth largest – expects cargo volumes to rise by over 20 % from 540m to 650m tonnes over the next five years, thanks to its new status as a free trade zone. “We will strive to ….to develop [Tianjin] into a key international shipping centre in the China’s north,” Tianjin Port Co spokesperson Zhang Liyi, said yesterday.
The port (more…)

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Greek dockworkers take to streets as COSCO seals Piraeus privatisation deal

Greece dockworkers protest against Pireaus privatisationPiraeus privatisation: Greek dockworkers marched into central Athens in protest yesterday after the Greek government sealed the sale of 67% of the Piraeus Port Authority to China’s state-owned COSCO Shipping Corporation on Friday. Cosco was the sole bidder for the stake in Piraeus Port Authority, a listed company that has a concession to operate the port until 2052.
The sale (more…)

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Vladivostok Free Port hands out residential status to first 29 enterprises

Vladivstok Free PortTwenty-nine companies working on projects worth a total of approximately $1.2bn have been granted residential status in Vladivostok Free Port, the zone’s supervisory board told a meeting convened by Russia’s Deputy Prime Minister and its Far Eastern Federal District presidential envoy Yuri Trutnev today. 
The projects include (more…)

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President Aliyev gives Baku FTZ the OK

President AliyevBaku FTZ: Azerbaijan’s President Ilham Aliyev last week signed a decree paving the way for the establishment of a free trade zone around the new Baku International Sea Trade Port. By offering businesses tax-free benefits, the authorities are hoping to attract as much as $1bn in inward investment over the next few years, the port’s Director General Taleh Ziyadov said.
Construction began on the redevelopment of Baku’s port in 2011 and its new ro-ro terminal is due to come into operation later this year, with phase one of the new port being scheduled for completion next year.

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Sri Lanka gives China green light to build giant ‘port city’ in Colombo

Colombo Port Redevelopment 2016Sri Lanka has granted China permission to build a vast ‘port city’ in Colombo on reclaimed land next to the capital’s main harbour, despite concerns the ambitious project could be an environmental disaster. Having suspended the controversial plan shortly after his inauguration at the beginning of 2015, President Maithripala Sirisena today gave the green light to the project, which is expected to include housing, a marina and a Formula One racetrack.
Tourism in Sri LankaThe project, (more…)

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Oman’s Salalah in link-up with key Iranian ports

SalalahThe southern Omani port of Salalah has signed a basic agreement with two key Iranian trade terminals in a move that could make the Arabian peninsula country Iran’s biggest trade partner in the region. Under the terms of the agreement, (more…)

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India offered stake in Imam Khomeini Airport expansion

Imam Khomeini airport expansionIran has offered India a stake in the proposed Imam Khomeini airport expansion as part of an $8bn infrastructure investment package, Iran’s ambassador to India Gholamreza Ansari confirmed this week. The offer follows (more…)

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UAE’s DP World ready to invest $2bn in Russian container terminals with RDIF

DP WorldOne of the world’s largest port operators , the UAE’s DP World has agreed to set up an 80-20 joint venture with the Russian Direct Investment Fund (RDIF) to invest up to $2bn in Russian ports. At the top of the list of its priorities will be container terminals in Novorossiysk, Taman and Primorsky Krai.
The deal (more…)

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China and Algeria agree to build $3.3bn Cherchell megaport

Cherchell agreement 17-01Algeria and China yesterday signed a $3.3bn deal to build a new megaport at Cherchell, 60 km west of Algiers. The agreement was signed between Algeria’s Transport Ministry, China Harbour Engineering Company (CHEC) and China State Construction Engineering Corporation (CSCEC).
Under the terms of the deal, (more…)

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China’s Cosco sole bidder in Piraeus privatisation, says agency

PireausPiraeus privatisation: China’s Cosco Group has emerged as the sole bidder in attempts by the government in Athens to sell off a majority stake in the Piraeus Port Authority, the Greek agency in charge of the privatisation said this week. Cosco already owns the port’s container terminal which (more…)

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