Karaikal Port attracts Rs. 200 crore equity investment [June 2012]

Karaikal Port, a subsidiary of Chennai headquartered MARG, announced that NYLIM Jacob Ballas India (FVCI) III LLC has invested Rs. 200 crore by way of primary and secondary investments in MARG Karaikal Port for a minority stake. The funds will be used for the MARG Karaikal Port expansion plans which will enhance the port’s capacity from the already planned expansion of 21 MMTPA to 28 MMTPA.
GRK Reddy, Chairman and Managing Director, MARG said, “The investment from NYLIM-JB Fund into MARG Karaikal Port comes in at an opportune time. Karaikal Port had already attracted private equity investments by India Infrastructure Fund and Ascent Capital Advisors in the past. With the present investment by NYLIM-JB Fund, MARG Karaikal Port has three institutional investors adding value by their infrastructure exposure & expertise to augment and fuel the ambitious growth plans of Karaikal Port”.

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