Stan Chart PE acquires stake in Karaikal Port for Rs 130 cr

Standard Chartered Private Equity invested Rs 130 crore in Karaikal Port on Wednesday by way of primary and secondary investments for a minority stake. The primary subscription funds will be used for expansion plans of the port, located in the Puducherry union territory.

[caption id=“attachment_360052” align=“alignleft” width=“380” caption=“The funds will be used for expansion plans of the port, located in the Puducherry union territory. Moneycontrol.com”] [/caption]

Stating the demand for high quality port infrastructure, Standard Chartered Equity managing director Rahul Raisurana said that several ports in the country are still facing capacity constraints.

“The logistical and infrastructural challenges presents a solid opportunity for newer and modern private sectors ports like Karaikal,” the statement quoted Standard Chartered as saying.

Raisurana will be joining the Karaikal Port board.

IANS