IPC is looking for Government approval to set up a consortium with an Indian firm to build a modern container terminal in the Indian state of Gujarat
The Israel Ports Development and Assets Co. (IPC) has lodged a formal application with the Ministries of Finance and Transportation for Government permission to participate in a tender to build a container port in India.
It is understood that IPC is looking for Government approval to set up a consortium with an Indian firm to build a modern container terminal in the Indian state of Gujarat, the westernmost state in India bordering Pakistan, about 100 kilometers north of Mumbai.
Gujarat is one of India's wealthiest states and most industrialized states in western India. Gujarat contributes to 16 per cent of the country’s total investment, 10 per cent of expenditure, 16 per cent of exports and 30 per cent of stock market capitalization. The state’s annual growth rate has been 10 to 2 per cent for the last five years.
The proposed container port project, which is subject to international tender, is worth billions of dollars.
Israel Ports Development & Assets Company Ltd. (IPC) is responsible for the development of Israel’s three commercial seaports in Haifa, Ashdod and Eilat, and for providing the necessary infrastructure which will allow the ports to efficiently and competitively handle Israel’s international maritime trade. In addition to managing some of the country’s largest infrastructure development projects, the company acts as Israel’s port property landlord, managing the government’s assets allocated for the facilitation of its international maritime commerce.