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No change in India plans: Dubai World

The financial turmoil in Dubai is not going to affect the DP World projects in India, including the proposed minor port in Bengal's Kulpi.

Dec 01, 2009, 07.36 AM IST
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KOLKATA: The financial turmoil in Dubai is not going to affect the DP World projects in India, including the proposed minor port in Bengal’s Kulpi. The spokeswoman of DP World in India told TOI that there is no impact on the firm following the financial restructuring of the Dubai government.

DP World, a subsidiary of Dubai World, is one of the largest port operators in the world with cargo handling capacity of more than 40 million TEU (twenty foot equivalent container units).

“We are not under the purview of Dubai government’s restructuring drive. DP World has enough financial resources to go ahead with its projects in India,’’ she said. She also pointed out that the delay in implementation of the Kulpi project has nothing to do with financial crisis. “It is largely due to Kolkata Port Trust.’’

According to her, DP World is committed to the port project in Bengal. Incidentally , Bengal Port, the joint venture between DP World and Keventer group is implementing the minor port project at Kulpi. P&O Port had originally formed the JV but following the takeover of P&O by DP World, the equity stake came to the Dubai firm. DP World and Keventer each holds 44.5% in the project while the remaining 11% is with the state government.
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