India Infrastructure Fund (IIF), managed by IDFC Project Equity Company, is
likely to pump in Rs 150 crore in Karaikal Port (KPPL).
Edelweiss Capital is the financial advisor to this transaction.
Karaikal port, a deep-water port in Puducherry, plans to have a total of nine
berths with a combined handling capacity of 47 million tpa to be developed in
three phases. IIF will take an equity stake in KPPL, to fund its Rs 1,500-crore
Phase-II expansion, which is proposed to be completed by September 2011.
Phase I of the project, with two berths - one each for coal and general cargo
- is operational and Phase III of the port is to be completed by 2016.
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