From the Press Release:
Karaikal
Port Private Limited, a subsidiary of Chennai headquartered MARG Limited, one
among India’s fastest
growing infrastructure companies, today announced that NYLIM Jacob Ballas India
(FVCI) III LLC (“NYLIM-JB Fund”) has invested Rs. 200 crores (by way of
primary and secondary investments) in MARG Karaikal
Port for a minority
stake. The funds will be used for the MARG Karaikal
Port expansion plans
which will enhance the port’s capacity from the already planned expansion of 21
MMTPA to 28 MMTPA.
MARG
Karaikal Port, a premier, hi-tech, all weather port on the South East coast of
India is notably the only all weather, deep water, multi-commodity port between
Chennai port and Tuticorin port and is strategically located in the middle of
this 680 km coastline, which makes it the new gateway to the state of Tamil
Nadu. Its combination of strategic location, state-of-the-art equipment and
world-class infrastructure makes it the port of choice for industries and
businesses located in and around Central Tamil Nadu and beyond.
Commenting
on the investment, GRK Reddy, Chairman and Managing Director, MARG Limited
said, “MARG Karaikal Port
is fast emerging as one of the finest ports on the South East Coast of India.
The investment from NYLIM-JB Fund into MARG Karaikal
Port comes in at an
opportune time. Karaikal Port had already attracted private equity investments
by India
Infrastructure Fund and Ascent Capital Advisors in the past. With the present
investment by NYLIM-JB Fund, MARG Karaikal Port
has three institutional investors adding value by their infrastructure exposure
& expertise to augment and fuel the ambitious growth plans of Karaikal Port.”
MLN Acharyulu, Executive
Director-Karaikal Port, further
added “MARG
Karaikal Port
posted an impressive performance and it has consolidated its position as the
new Maritime Gateway to Central Tamil Nadu. Capacity to handle large vessels
and diverse cargo, single window clearance, E2E logistics, state-of-the-art
equipment, competitive tariffs and an ideal location are the hallmarks of MARG
Karaikal Port.”
Sunil Chawla, Partner,
Jacob Ballas Capital India Pvt Ltd (“JBC”),
investment advisor to the investment manager of NYLIM-JB Fund, said “Karaikal Port, with its strategic location and excellent
connectivity, is well positioned to cater to the agricultural and industrial
belts of central Tamil Nadu. The need for incremental, efficient port
infrastructure in the country is well known, given increasing volumes and the
relatively high turnaround time at some of our ports. Against that backdrop, we
see Karaikal Port
emerging as a port of choice on the southeastern coast of India, with efficient operations
backed by world class infrastructure. NYLIM-JB Fund is delighted to partner
with MARG in this exciting venture and looks forward to being a part of the
Company's continuing success."
Sunil
Chawla will be joining the Board of Directors of KPPL.
About MARG Karaikal
Port:
MARG Karaikal Port
is a premier, deepwater, all weather port on the South East coast of India.
The Port has a sizable hinterland because of its strategic location. Awarded on
BOT basis by the Government of Puducherry in 2006, MARG Karaikal
Port when fully developed
is envisaged to have a total of 9 berths capable of handling up to 47 MMTPA.
The Port is to be developed over 3 phases with the final phase getting
operational by 2017. MARG
Karaikal Port
has shown its versatility by handling different types of cargo like coal,
fertilizer, cement, raw sugar, project cargo, gypsum, containers, steel pipes, scrap,
bagged sugar, construction material etc.
The
Port’s cargo handling capacity and capabilities increased significantly during
the past 12 months as 2 new deep draft berths were operationalized, taking the
total number of berths available at the Port to 5 at present. The Port has
deployed dedicated infrastructure to handle containers and liquid cargo and
expanded the existing facilities catering to dry bulk cargo.
MARG Karaikal Port has transformed the field of marine architecture by
Master Planning, Engineering, Design, on and off shore construction, project
management and value engineering. It is committed to continuously invest in
high quality infrastructure to meet the future maritime trade needs of the
region. Higher discharge rates, no pre-berthing delays, faster turnaround times
and savings in the integrated logistics costs vis-à-vis competing ports, has
helped in attracting almost all major customers in the Central Tamil Nadu /
Puducherry region.
MARG Karaikal Port’s operational processes and practices are on par
with the best in the industry and the Port has managed to bag ISO 9001, ISO
14001 and OHSAS 18001 certifications in a record time, demonstrating the
maturity and quality of operational processes followed at the Port.
More information on MARG Karaikal Port is available on http://www.karaikalport.com
About MARG:
MARG Limited (BSE: 530543), incorporated in 1994 and headquartered in Chennai, is an infrastructure, real estate development and services company. The Company is listed on BSE and MSE and its shares are traded on the NSE under the category of ‘Permitted Security’. The holistic regional development undertaken by the group is unlocking economic prosperity and creating inclusive & sustainable growth models.
With nearly two decades of reassuring presence and the credit of pioneering the development of economic growth centers, MARG's portfolio spans across the entire infrastructure value chain - urban and industrial infrastructure, urban residential clusters, marine infrastructure & services, malls and EPC division. Listed by Dun & Bradstreet among “India’s Top 500 Companies 2010”, today MARG Group has nationally prestigious projects worth more than Rs. 3,000 crores under execution including the building of marine and cooling structures for the Bhavnagar Electricity Corporation, a seasoned human capital of more than 1,100, global partners in the infra space and offices spread across India, Singapore and China. The MARG CSR brand – MARG Parivarthan complements these business verticals.
More information on MARG is available on http://www.marggroup.com
About NYLIM Jacob Ballas India Fund III, LLC
NYLIM
Jacob Ballas India Fund III LLC is a private equity fund with an investment
objective of achieving long-term capital appreciation through equity or
equity-related investments into companies based in or with significant
operations in India.
NYLIM-JB Fund and its predecessor Funds have so far invested in 25 companies in
a diverse range of sectors including telecom, ports, power, engineering
construction, shipbuilding, auto components, IT consulting, general
manufacturing, pharmaceuticals, financial services etc. Some of the earlier
investments by the Funds include Bharti Airtel, Gujarat Pipavav Port, Punj
Lloyd, ABG Shipyard, Reliance Infrastructure, Pipavav Defence & Offshore
Engineering Co., Commercial Engineers & Body Builders Co. (CEBBCO),
Bhilwara Energy, Mahindra Holidays & Resorts, Financial Software and
Systems, SEW Infrastructure, PNC Infratech, Vivimed Labs, Religare Finvest and
DBM Geotechnics and Constructions.
About Jacob Ballas Capital India Pvt Ltd
Jacob
Ballas Capital India Pvt. Ltd (“JBC”), based in New Delhi, is the investment
advisor to the investment manager(s) of three India focused private equity
funds, New York Life International India Fund (Mauritius), LLC, New York Life
Investment Management India Fund II, LLC and NYLIM Jacob Ballas India Fund III,
LLC. JBC’s ten member investment team
has over 150 years of collective operating and investing experience, with over
50 years focused on private equity investments in India.
JBC was founded by Rajan Jetley, Chairman, who is a well known professional and entrepreneur. Mr. Jetley has previously served as CEO of Air India and India Tourism Development Corporation, and as Director of International Airports Authority of India. JBC’s shareholders, apart from Mr. Jetley, include (i) NYLCAP Holdings (Mauritius) which is wholly owned by New York Life Investment Management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company, (ii) Excelfin Pte Ltd, Singapore, promoted by Mr B S Ong and Mr David Ban, reputed Asian entrepreneurs and (iii) the JBC senior management team, which includes Srinivas Chidambaram, Sunil Chawla, Bharat Bakhshi and Anurag Kumar.
JBC was founded by Rajan Jetley, Chairman, who is a well known professional and entrepreneur. Mr. Jetley has previously served as CEO of Air India and India Tourism Development Corporation, and as Director of International Airports Authority of India. JBC’s shareholders, apart from Mr. Jetley, include (i) NYLCAP Holdings (Mauritius) which is wholly owned by New York Life Investment Management Holdings LLC, a wholly owned subsidiary of New York Life Insurance Company, (ii) Excelfin Pte Ltd, Singapore, promoted by Mr B S Ong and Mr David Ban, reputed Asian entrepreneurs and (iii) the JBC senior management team, which includes Srinivas Chidambaram, Sunil Chawla, Bharat Bakhshi and Anurag Kumar.
For more information on NYLIM Jacob Ballas India
Fund III, LLC and Jacob Ballas, please visit www.jbindia.co.in.