Mumbai: Dighi Port Ltd, which runs a port on the banks of Rajpuri creek in Maharashtra’s Raigad district, is in talks with private equity (PE) and strategic investors to raise about Rs.200 crore for the port’s expansion.
This will be aided by IL&FS Transportation Networks Ltd, an investor in Dighi Port, looking to acquire in the port company’s road connectivity project.
Mr Vishal V. Kalantri, Director, Dighi Port said Dighi Port has emerged as the largest port in Maharashtra. It handled more than four million tonnes of cargo in the last two years, and plans to invest about Rs.1,000 crore for developing the port, over and above the Rs. 1,800 crore already spent, Mr Kalantri added.
“The promoters have already infused money in accordance with the restructuring plan. The firm will raise about Rs.200 crore from PE and strategic investors to fund the port’s expansion plans,” the sources said.
Dighi Port is in talks with leading port firms and PE firm Carlyle Group for fund-raising.
“IL&FS is actively participating in development of port, rail and road projects. The company (Dighi Port) has signed a memorandum of understanding with IL&FS Transportation Networks to develop rail and road network for optimum cargo evacuation,” Kalantri said, referring to the IL&FS unit picking up a stake in the port’s road connectivity project.
IL&FS Transportation Networks holds about 23% stake in Dighi Port. Dighi Port has been trying to raise funds the past two years.
“Now the pain points of the company are slowly getting over with the current debt restructuring. Once the port is connected well, there could be serious interest from several international port operators,” the consultant said, also requesting anonymity.
Dighi Port is the last and the largest node for the Delhi-Mumbai Industrial Corridor being jointly developed by the Governments of India and Japan, which could add to interest in the project.
The port area has been identified as one of the seven mega national investment and manufacturing zones under the Indian government’s new manufacturing policy.
While Dighi Port has been under financial pressure, the uniqueness of the port is likely to attract large investors.
Under the first phase of expansion, the port is developing five multipurpose berths and will offer an alongside depth of 14.5m.
“Two multipurpose berths having a single quay length of 650m (the longest such in Maharashtra) have been developed and are operational on the south bank. The north bank will offer three multipurpose berths having a total quay length of 1,100m,” Mr Kalantri said
This will be aided by IL&FS Transportation Networks Ltd, an investor in Dighi Port, looking to acquire in the port company’s road connectivity project.
Mr Vishal V. Kalantri, Director, Dighi Port said Dighi Port has emerged as the largest port in Maharashtra. It handled more than four million tonnes of cargo in the last two years, and plans to invest about Rs.1,000 crore for developing the port, over and above the Rs. 1,800 crore already spent, Mr Kalantri added.
“The promoters have already infused money in accordance with the restructuring plan. The firm will raise about Rs.200 crore from PE and strategic investors to fund the port’s expansion plans,” the sources said.
Dighi Port is in talks with leading port firms and PE firm Carlyle Group for fund-raising.
“IL&FS is actively participating in development of port, rail and road projects. The company (Dighi Port) has signed a memorandum of understanding with IL&FS Transportation Networks to develop rail and road network for optimum cargo evacuation,” Kalantri said, referring to the IL&FS unit picking up a stake in the port’s road connectivity project.
IL&FS Transportation Networks holds about 23% stake in Dighi Port. Dighi Port has been trying to raise funds the past two years.
“Now the pain points of the company are slowly getting over with the current debt restructuring. Once the port is connected well, there could be serious interest from several international port operators,” the consultant said, also requesting anonymity.
Dighi Port is the last and the largest node for the Delhi-Mumbai Industrial Corridor being jointly developed by the Governments of India and Japan, which could add to interest in the project.
The port area has been identified as one of the seven mega national investment and manufacturing zones under the Indian government’s new manufacturing policy.
While Dighi Port has been under financial pressure, the uniqueness of the port is likely to attract large investors.
Under the first phase of expansion, the port is developing five multipurpose berths and will offer an alongside depth of 14.5m.
“Two multipurpose berths having a single quay length of 650m (the longest such in Maharashtra) have been developed and are operational on the south bank. The north bank will offer three multipurpose berths having a total quay length of 1,100m,” Mr Kalantri said
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