Transworld Group to build a ₹200 crore container manufacturing facility in Gujarat
March 01, 2021
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Dubai-based Transworld Group, promoted by Indian businessman Ramesh Ramakrishnan has signed an agreement with state-owned Sagarmala Development Company Ltd to build a cargo container manufacturing facility in Gujarat with an investment of about ₹200 crore.
The plan marks India s entry into manufacturing cargo containers, a segment dominated by China, as part of the Atmanirbhar Bharat initiative. Indian coastal shipping adds about 10,000 twenty-foot equivalent units (TEUs) of new containers annually, while India s largest container rail operator – Container Corporation of India - may require 2,000 to 2,500 TEUs of new containers every year, an official with the Ministry of Ports, Shipping and Waterways said.