Eredene to build, operate Indian container terminal

Eredene Capital, a UK-based company which invests in infrastructure projects in India, said it has won a bid in a consortium to build and operate the Container Terminal at Ennore Port in the southern Indian State of Tamil Nadu, Dow Jones reported.

The estimated project cost of the Ennore Container Terminal is US$312 illion.

Eredene has a 22 percent stake in the consortium.

Eredene's equity commitment to this project is up to $34.6 million, spread over a 48 month period. Commitment will initially be funded through existing cash reserves and then through the raising of additional capital into Eredene.

Work on the new Ennore Container Terminal is scheduled to take 33 months and is expected to be operational by the end of 2013.

Concession will be awarded on a build, operate and transfer (BOT) basis for a period of 30 years.
(Source:www.cargonewsasia.com)