Plans revealed for $500m shipping fund in India

India’s Alphard Maritime Group plans to establish a $500m shipping fund at Gujarat International Finance Tec-City, with Alphard contributing Rs500 crore and partners providing Rs4,500 crore for Indian shipowners to acquire assets valued at $10m to $20m. Operating since 2009 in Mumbai, Alphard aims to support the maritime industry in India by offering financial assistance for asset acquisition.

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