Antwerp Port to Invest in Indian Port Company

The Port of Antwerp International ("PAI") will make an investment of about Rs 175 crore (about $31 million) in Essar Ports, the firms said. PAI is the international investing arm of the Antwerp Port Authority. Under the deal, the Antwerp Port Authority and Essar Ports will collaborate in the areas of training and consultancy services, port planning, traffic flow, quality and productivity improvement and will further build a mutually beneficial commercial relationship based on mutual business and investment preferences. Both Essar Ports and PAI will mutually assist in the growth in the volume of their businesses, they said. PAI will have the right to nominate a director on the board of Essar Ports.