Latest news from Heavy Lift & Project Forwarding International Magazine

3i invests USD161 million in Indian privatised port

February -25-The Indian arm of a major global private equity operation has made a significant investment in one of India's first private sector ports.

 

3i India Infrastructure Fund, part of the global private equity firm 3i Group, has invested around USD161 million for a minority stake in Krishnapatnam Port Company Ltd (KPCL).
 
KPCL has been awarded a 30-year concession, extendable to 50 years, to develop, operate and maintain Krishnapatnam port, a natural deep water all-weather port with 12 km of quays in the state of Andhra Pradesh. The facility is the first of the Indian state-owned minor ports to be privatised.
 
While predominately a dry bulk operation, managers are anticipating a two million tonne throughput of general and project cargo for the port.
 
Anil Ahuja, head of Asia at 3i, said: "Krishnapatnam Port provides us with an opportunity to invest in a high quality port being developed on the east coast of India. The port is strategically located and is being developed by a highly experienced management team."
 
The port is connected to the National Highway 5 through a dedicated 25 km road and a single railway line connecting the Chennai-Howrah broad gauge line near Venkatachalam.

 

 

Heavy Lift | News

Crosby delivers training courses thumbnail image

Crosby delivers training courses

April 19 - The Crosby Group has conducted two rigging training courses in the USA on behalf of its distribution partner, B.C. Wire Rope & Rigging.
Views: 185
Egbert joins at Weserport thumbnail image

Egbert joins at Weserport

April 19 - Rudolf Egbert has been appointed to the management of Bremen-based terminal operator Weserport.
Views: 254
Ritchie realigns in North America thumbnail image

Ritchie realigns in North America

April 19 - Ritchie Bros has made two senior appointments, effective July 1, 2019, as the company aims to realign its organisation in North America.
Views: 214

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.