Russian co eyes terminals, shipbuilding push in India

State-affiliated Delo Group is eyeing India’s inland waterways and strategic ports for projects

- Subhash Narayan & Rituraj Baruah

Russia’s state-affiliated Delo Group plans to develop terminals on India’s inland waterways such as rivers and canals as well as at strategic ports including Mormugao in Goa through joint ventures (JVs) with local public and private shipyards, three people aware of the matter said.

The plan by the shipping and logistics major, founded by Russian oligarch Sergey Shishkarev, is expected to gain traction, with a firm agreement expected to be inked after Russian President Vladimir Putin's visit to India later this week, they said, requesting anonymity.

After courting Japan and South Korea, New Delhi is turning to longtime ally Moscow to fuel the next phase of its shipbuilding and port development ambitions.

“An Indian delegation comprising government officials and industry representatives will be shortly leaving for Moscow to finalize partnerships between Indian and Russian entities in shipbuilding, ship breaking, along with port and terminal development projects,” said the first of the three persons cited earlier.