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P&O Buys Stake In Indian Container Terminal

Maritime Activity Reports, Inc.

August 30, 1999

South Asia Ports Ltd., a subsidiary of British Shipping group P&0 has reportedly bought a 96 percent stake in the container terminal at India's Kandla port for $30 million. P&O plans a total investment of $80 million to upgrade facilities and set up a container yard in return for a 30-year operating lease.

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