Grup TCB pulls out of India port project

Infrastructure Development

Thursday, October 04, 2012

The Spanish terminal operator Grup TCB said a consortium that planned to build and operate a container terminal in Ennore, India, is withdrawing from the project immediately. "The reasons for this decision are based on the unfavorable evolution of the Indian economy since the awarding of the concession that has made the project no longer financially viable," TCB said. "The project feasibility has been greatly affected due to higher interest rates, higher total project costs d...

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