Standard Chartered PE commits $22m to India’s Karaikal Port

The new funds will be used to expand the port's capacity from 21 million metric tons per annum to 28 million tons. As part of the transaction, Rahul Raisurana, a managing director at SCPE, will join Karaikal Port's board. The port company and its parent were advised by Motilal Oswal Investment Advisors.

"There is strong demand for high quality port infrastructure to service expanding external trade and increasing needs for multiple commodities for the growing economy," Raisurana said in a statement.

Karaikal Port is a multi-commodity port located on India's southeast coast between Chennai and Tuticorin. Marg wants to increase its capacity to 45 million metric tons per year by 2017.

Jacob Ballas invested $38 million in the company in May through its NYLIM Jacob Ballas India Fund III. Ascent's $45 million commitment came the previous year, while IDFC Project Equity's India Infrastructure Fund put in about $32 million in 2010.

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• Topics
• South Asia
• Infrastructure
• Expansion
• Standard Chartered Private Equity
• India
• Infrastructure
• Jacob Ballas Capital
• IDFC Project Equity
• Ascent Capital