India shuts ports to Chinese companies
[ 30 Aug, 2006 0041hrs ISTTIMES NEWS NETWORK ]
MUMBAI: After close to a year of intense debate, the Indian government has decided it does not want the
Chinese investing in, or managing any Indian port.
The first company to bear the brunt of this decision will be Hong Kong-based Hutchison Port Holdings (HPH),
the largest independent port operator in the world. The company has been waiting for security clearances
before it could go ahead with its bids to build container terminals for Mumbai and Chennai at Rs 1,200 crore
and Rs 494 crore respectively. The decision also eliminates future Chinese participation in 13 ports planned
across the country at a cost of Rs 61,000 crore.