NABFID and Axis Bank Join Forces to Extend Rs 37.90 Bn Loan for DP World's Box Terminal at Tuna Tekra
ECONOMY & POLICY

NABFID and Axis Bank Join Forces to Extend Rs 37.90 Bn Loan for DP World's Box Terminal at Tuna Tekra

In a strategic collaboration, the National Bank for Financing Infrastructure and Development (NABFID) and Axis Bank have joined forces to extend a significant loan of Rs 37.90 billion to DP World. The funds are earmarked for the establishment of an advanced box terminal at Tuna Tekra, marking a pivotal step in fortifying maritime infrastructure in the region.

The financial infusion into DP World's box terminal project is anticipated to play a pivotal role in bolstering port infrastructure, enhancing trade capabilities, and fostering economic growth. The collaboration between NABFID and Axis Bank underscores a concerted effort to support critical projects that contribute to the development of robust maritime facilities.

The loan is expected to facilitate the construction and operationalization of a state-of-the-art box terminal, contributing to the region's logistics and trade efficiency. The collaboration reflects the banking sector's commitment to supporting key initiatives that align with the broader goals of enhancing infrastructure and promoting economic development.

As DP World embarks on this ambitious project, the financial backing from NABFID and Axis Bank signifies a synergistic approach towards strengthening maritime connectivity and trade capabilities. The loan infusion is set to have a cascading impact on the region's economic landscape, positioning Tuna Tekra as a key player in the maritime infrastructure ecosystem.

In a strategic collaboration, the National Bank for Financing Infrastructure and Development (NABFID) and Axis Bank have joined forces to extend a significant loan of Rs 37.90 billion to DP World. The funds are earmarked for the establishment of an advanced box terminal at Tuna Tekra, marking a pivotal step in fortifying maritime infrastructure in the region. The financial infusion into DP World's box terminal project is anticipated to play a pivotal role in bolstering port infrastructure, enhancing trade capabilities, and fostering economic growth. The collaboration between NABFID and Axis Bank underscores a concerted effort to support critical projects that contribute to the development of robust maritime facilities. The loan is expected to facilitate the construction and operationalization of a state-of-the-art box terminal, contributing to the region's logistics and trade efficiency. The collaboration reflects the banking sector's commitment to supporting key initiatives that align with the broader goals of enhancing infrastructure and promoting economic development. As DP World embarks on this ambitious project, the financial backing from NABFID and Axis Bank signifies a synergistic approach towards strengthening maritime connectivity and trade capabilities. The loan infusion is set to have a cascading impact on the region's economic landscape, positioning Tuna Tekra as a key player in the maritime infrastructure ecosystem.

Next Story
Building Material

JSW Steel and POSCO to Invest ?650 Billion in Odisha Steel Plant

India's JSW Steel and South Korea's POSCO have announced plans to jointly invest ?650 billion (~$7.73 billion) in constructing a steel plant in Odisha. The plant, which will have an initial capacity of 5 million tons of steel annually, is part of their strategy to tap into India's rapidly growing steel market, fueled by its fast-paced economic expansion. The cooperation agreement was signed last week, although specific financial details were not disclosed. The initial investment for the project will be ?200 billion, with the plant expected to be operational by next year. Over the following thr..

Next Story
Infrastructure Urban

India's EV Charging Market Set to Reach $3.7 Billion by 2030

India’s electric vehicle (EV) charging market is projected to grow to $3.7 billion by 2030, driven by increasing EV adoption and the need for efficient charging solutions. The sector is expected to expand at a compound annual growth rate (CAGR) of 16%, supported by environmental concerns and fluctuating fuel prices. Globally, the EV charging infrastructure market is also experiencing significant growth, with revenues forecast to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a CAGR of approximately 12%. "Fast-charging technologies and battery-swapping solutions are esse..

Next Story
Resources

IIA Kerala to host SRC 2024 on November 29-30

The Southern Regional Conference (SRC) 2024, hosted by The Indian Institute of Architects (IIA) Kerala Chapter and organised by IIA Kannur Centre, will take place on November 29-30, 2024 at Vythiri Village Resort in Wayanad. This prestigious conference will bring together visionary architects from across the country  and beyond to foster a rich dialogue and exchange of innovative ideas in the field of architecture.The Southern Regional Conference serves as a premier platform for professional development, knowledge sharing, and networking within the architectural community. This year’s t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000