Gulftainer plans $1bn projects in India, ME

Gulftainer Company of UAE  has signed an agreement with the Lanco Group to work on a range of port and transportation projects.

"We are assessing ventures worth around $1 billion in the Middle East, India and the eastern Mediterranean," Peter Richards, director, Gulftainer, said.

Both sides have reached an agreement to cooperate on a wide variety of port and transportation projects.

"We are delighted that we have reached an agreement that will allow Gulftainer's acknowledged container terminal and transport logistics expertise to be linked with a company of stature, reputation and resources," Richards said.

Gulftainer's projects, which will be executed by Lanco Infratech, is a subsidiary of the Lanco Group. "Lanco Infratech one of the fastest growing corporate entities in India and has more than two decades of experience operating in power generation, power trading, construction, infrastructure and property development," a company statement said.