Mundra port in India to go public
The port of Mundra on India's northwest coast is set for a public stock offering, Indian news outlets reported this week.
The port, north of the container hub of Nhava Sheva in Mumbai, is one of several ports the Indian government is eyeing as potential gateway ports as the country's manufacturing and raw materials sector develop.
Mundra, in the state of Gujarat, is specifically targeted as a destination for coal, with the Indian Adani Group eyeing development of a bulk terminal to support its diversified industrial assets. The company filed to float public shares on March 9, and is seeking roughly $400 million to build up port facilities and develop road and rail connections. DP World currently operates a container terminal in Mundra.
Mundra port in India to go public
