December 03, 3019: PSA India Intermodal Pte Ltd, a unit of Singapore-based port operator PSA International Pte Ltd, has acquired a 50 percent stake for $93 million in an Indian logistics hub from French shipping group CMA CGM.
Marseille-based CMA CGM, the world’s fourth largest container shipping company held the 50 percent stake in Ameya Logistics Pvt Ltd, the entity that runs a container freight station (CFS) near Jawaharlal Nehru Port Trust (JNPT), India's busiest container gateway.
Ameya Logistics, in turn, held a 51 percent stake in CMA CGM Logistics Park Dadri, located in Greater Noida, Uttar Pradesh with Container Corporation of India Limited (Concor) holding the balance stake.
Ameya Logistics also held a 55 percent stake in Honeycomb Logistics Pvt Ltd, which runs a CFS at Mundra in Gujarat.
The purchase of the 50 percent stake in Ameya Logistics will help PSA get stakes in the other two facilities as well.
In 2018, during a visit to India to open PSA’s biggest terminal in the country at JNPT, Tan Chong Meng, Group CEO, PSA International, has mentioned that the operator was scouting India’s vast cargo hinterland for potential acquisitions.
