For Karaikal Port Private Ltd., one more institutional investor

The Chennai-based MARG has announced that for its subsidiary,  Karaikal Port, Standard Chartered Private Equity (Mauritius) has invested INR 130 crores which will be used for the port expansion , resulting into enhanced port capacity from 21 Million Metric Tonne Per Annum (MMTPA) to 28 MMTPA. The projected increase in the port capacity will not be difficult at all to achieve because of the unique features of the port. Its strategic location between Chennai Port and Tuticorin Port, its excellent infrastructure and, above all, its deep-water will never fail to attract great business. GRK Mr.Reddy, Chairman and Managing Director, MARG, has said that Standard Chartered Private Equity is its fourth institutional investor. He added: “ Given the planned and the existing efforts towards infrastructure development of Karaikal coupled with its health business and political environment, location advantage and State-of-the-art facilities MARG Karaikal port is poised to be the most strategic and efficient port on the South East coast of India that will unleash the economic potential of central Tamil Nadu and Puducherry.” He also added that the effective operational strength of the port is “well recognized by its growing premier customer base across sectors”.


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