DP World acquires Chennai Port Container Terminal

DP World has confirmed the company's 100 per cent ownership of the container terminal at Chennai Port.

It is completing the buyout of its partners' shareholdings in Chennai Container Terminal Chettinad Logistics (20 per cent stake) and the Jakari Group (5 percent stake). DP World's focus on expansion of its terminal business in Chennai combined with a strong growth trend in South Indian trade and the partners' desire to reinvest resources in their respective core businesses were the main drivers of this decision. The price of the buyout was not disclosed. "The move to 100 per cent ownership reflects the great commitment and belief by DP World in the terminal development in particular and to the employees of Chennai Container Terminal, " said CEO of Chennai Container Terminal Ennarasu Karunesan said.
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