Transworld Group to build container manufacturing facility in Gujarat
Dubai-based Transworld Group 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 Rs 200 crore. The plan marks India’s entry into manufacturing cargo containers, a segment dominated by China, as part of the Atmanirbhar Bharat initiative. The government’s move to produce shipping containers in India is part of the Atmanirbhar Bharat initiative and creates an import substitute for the new shipping containers. India will require approximately 60,000 new containers between 2021 and 2026, an annual addition of about 10,000 TEUs per year.