PSA to construct fourth terminal at India’s JNPT

Singapore’s PSA International has won the bid to construct and manage a US$1.3bn fourth container terminal at India’s Jawaharlal Nehru Port Trust (JNPT), near Mumbai, offering a 35.9% revenue share to the port.

The project will be awarded on a design, build, finance, operate, transfer (DBFOT) basis.

The company’s only competition was Adani Ports & Special Economic Zone, offering a 29% revenue share, despite the fact that five other parties qualified for the bidding process: DP World, ICTSI, APM Terminals (APMT), Sterlite Ports and United Liner Agencies (ULA).