Oman reserve fund invests in India’s container terminal

MUSCAT: India’s Prime Minister Narendra Modi inaugurated the first phase of the Bharat Mumbai Container Terminal (BMCT) at Jawaharlal Nehru Port Trust (JNPT) in the Indian city of Mumbai.
The terminal was developed by the Port of Singapore Authority (PSA) in partnership with the State General Reserve Fund of the Sultanate of Oman (SGRF). The terminal is SGRF’s third such investment after the container port of Kumport in Turkey and Bagamoyo Port in Tanzania. SGRF aims to benefit from the experience of PSA, one of the leading global port groups with port projects in 16 countries across Asia, Europe and the Americas.
This is part of the fund’s strategy to invest in logistics services sector.
The overall capacity of the first phase, which entails a 1-km-long berth mostly built on reclaimed land, can handle three ships simultaneously.