Karaikal Port Private Ltd (KPPL), on Wednesday, announced that Standard Chartered Private Equity (Mauritius) II Limited has invested Rs.130 crore, by way of primary and secondary investments, in MARG Karaikal port for a minority stake.
The primary subscription funds will be used for the expansion plans of the port, which will enhance its capacity from 21 million tonnes to 28 million tonnes per annum, a release said. KPPL is a subsidiary of MARG Ltd.
Rahul Raisurana, Managing Director, Standard Chartered Private Equity, said the present scenario in which several ports in the country were facing capacity constraints or other logistical and infrastructural challenges presented a “solid opportunity for newer and modern ports such as Karaikal”. He will join the KPPL board, the release said.