Lanco Infratech consortium wins 80 bln rupees port project in India :(News in Forbes.com)

MUMBAI (Thomson Financial) - India's Lanco Infratech Ltd. said its consortium with Malaysia's Pembinan Radzai Sdn. Bhd. has won an international container port project worth 80 billion rupees ($2 billion) from the government of the Indian state of Kerala.

The Vizhinjam port project, located in southern India, is envisaged to be developed in four phases with ultimate capacity of 6.5 million TEUs (20 foot equivalent unit), it added.

Construction of the initial phase would be completed in 60 months and the other three phases will be initiated after reaching stipulated traffic levels.

Before the announcement, Lanco Infratech shares ended 10.88 percent higher at 513.80 rupees on the Bombay Stock Exchange while the benchmark Sensex closed 1.35 percent higher at 16,978.35.

Source: Forbes

Link: http://www.forbes.com/afxnewslimited/feeds/afx/2008/05/14/afx5007632.html