3i India Infrastructure Fund, an arm of the international private equity firm 3i Group, has invested around US$161 million to pick a minority stake in the Krishnapatnam Port Company Ltd (KPCL), which operates and manages the south Indian port of Krishnapatnam Port on the eastern coast.
The port, situated in Andhra Pradesh, is promoted by the Hyderabad-based infrastructure major Navayuga Group. The port company has won the mandate to develop, operate and maintain the port for a 30-year concession period. This could be extendable to 50 years.
The port, inaugurated in July 2008, is expected to handle about 100 million tonnes of bulk cargo when fully completed.
Union Minister for shipping, road transport and highways T R Baalu on Friday inaugurated Work on six projects has been started at the Ennore Port, near Chennai port, on India’s eastern coast, with an investment of about INR 5.20 billion.
The third 80-ton Bollard pull anchor handling tug supply vessel (AHTSV) built by Colombo Dockyard PLC (CDPLC) for Greatship Global Offshore Services Pte Limited of Singapore (GGOSL) was delivered on February 18, 2009.
