3i India Infrastructure Fund yesterday announced it will pay $161 million for a minority stake in Indian port operator, Krishnapatnam Port Company KPC.
KPC has been awarded a 30-year concession extendable to 50 years from the government of Andhra Pradesh, one of India's leading states, to develop the Krishnapatnam port. KPC will be upgrading the existing minor port on a build-operate-share-transfer basis. Krishnapatnam is the first of the state-owned minor ports to be awarded to a private party for development and private operations. The first phase commenced operations in July 2008.
Krishnapatnam is a deep-water, all-weather port located in the Nellore District of Andhra Pradesh, 180 kilometres from Chennai. It is being equipped to...
¬ Haymarket Media Limited. All rights reserved.
