Millennium Post

Jacob Ballas invests Rs 200 crore in Karaikal Port

Private equity player NYLIM Jacob Ballas India today said it has made an investment of Rs 200 crore in MARG Karaikal Port, a unit of infrastructure firm Marg Ltd, for a minority stake in the company.

The funds will be used for the MARG Karaikal Port's expansion plans including the enhancement of the port's capacity from 21 MMTPA to 28 MMTPA.

MARG Karaikal Port is a all weather port on the South East coast of India.

'We see Karaikal Port emerging as a port of choice on the southeastern coast of India, with efficient operations backed by world class infrastructure,' Jacob Ballas Capital India, investment adviser to the investment manager of NYLIM-JB Fund Partner Sunil Chawla said.

Sunil Chawla will be joining the Board of Directors of Karaikal Port, the company release said.

Karaikal Port had already attracted private equity investments by India Infrastructure Fund and Ascent Capital Advisors in the past.

Commenting on the development, MARG Ltd Chairman and Managing Director GRK Reddy said, '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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