Maersk plans foray into India's infrastructure sector
Shipping firm Maersk India Pvt Ltd, wholly-owned subsidiary of the A P Moller-Maersk Group, is planning to foray into the infrastructure sector in India.
By PTI |
MUMBAI: Shipping firm Maersk India Pvt Ltd, wholly-owned subsidiary of the A P Moller-Maersk Group, is planning to foray into the infrastructure sector in India.
"We are planning to invest in infrastructure such as ports, railways, inland infrastructure like installing container freight stations and others as there is a huge opportunity in the sector," Maersk India Pvt Ltd's Area Line and Operations Manager, South Asia, Julian M Bevis, told the media.
Maersk is in talks with a number of infrastructure companies for possible joint ventures, he said.
However, he declined to give an exact time-frame for the foray and also declined to comment on the investment size.
"We are looking at different possible projects but it is too early to say when we would start and the investment would depend on the type of project we start with. But within the next three years, we should definitely be there in the market," he said.
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In India, infrastructure is a major concern and it is not keeping pace with GDP growth, he said.Moreover, if the GDP grows at around nine per cent, then international trade is also likely to grow at around five to six per cent and to cope with it, the country's infrastructure needs to be improved, he said.
Speaking on the rupee surge affecting the shipment business, he said due to weakening of the dollar, exports to North America have declined by around four per cent.
Exports to Europe have, however, increased by around 15 per cent, he said.
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