Live Mint March 5, 2014
Mumbai: Dighi Port Ltd, which runs a port on the banks of Rajpuri creek in Maharashtra’s Raigad district, is in talks with private equity (PE) and strategic investors to raise about Rs.200 crore for the port’s expansion, two people with direct knowledge of the development said.
This will be aided by FS Transportation Networks Ltd, an investor in Dighi Port, looking to acquire an undisclosed stake in the port company’s road connectivity project.
Dighi Port’s earlier attempts at raising funds have suffered because of a lack of adequate connectivity.
Dighi Port, controlled by Mumbai-based Balaji Infra Projects Ltd, also has been undergoing a financial restructuring since December 2011 to recast loans worth Rs.800 crore. The firm is now looking to raise money to complete the first phase of port development, after which the total installed capacity of the port will be around 30 million tonnes.
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Dighi Port in talks with PE investors to raise 2 bln rupees
