DP World looks to India expansion

DUBAI-based port operator DP World, the largest shareholder of Manila South Harbor operator Asian Terminals Inc. (ATI), is planning to spend up to $1 billion in investments in India’s ports, after winning concessions for two facilities at India’s largest port and posting successful first-half financial figures for this year, the company said.

The company actually announced the planned India investment in a video statement circulated in February this year, but issued an updated version of the statement this week after announcing its first half financial results, which showed profits increase by more than 50 percent and revenue by 10 percent.