Nectar Group, a U.K.-based provider of port-related services, has entered into a joint venture with Portman India to offer port and terminal management services in India.
Portman India and Nectar Portman will be a 50-50 joint venture, providing port promoters with professional services in design, development and operations of ports and terminals in India, Portman India said in a written statement. “We are a 4-year-old company and see huge prospects in this sector in India.”
No financial details of the deal were disclosed.
The joint venture, called Nectar Portman, will combine Portman’s local market knowledge with Nectar’s port management expertise and experience, allowing the two partners to tap growing business opportunities in the Indian port sector.