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Belgium's Port of Antwerp invests Rs 175 cr in Essar Ports

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Belgium's Port of Antwerp invests Rs 175 cr in Essar Ports

Source: Reuters


New Delhi: 

Highlights

  1. In an interview to NDTV Profit, former Reserve Bank of India governor Dr. Bimal Jalan said that there is a need for a credible policy to prevent the rupee’s fall as expectations on the currency direction are critical.

Essar Ports said on Wednesday that Belgium's Port of Antwerp has infused Rs 175 crore into the company as it looks to expand in the country.

The Belgian company's investment is through global depository receipts at Rs 100 apiece.

Jan Adam, chief financial officer of Port of Antwerp, will become a non-executive director on the Essar Ports board, it said.

The two companies will collaborate in training and consultancy services, port planning, traffic flow, quality and productivity improvement, Essar said.

Copyright: Thomson Reuters 2012



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