Private equity firm, Jacob Ballas has announced that it has invested Rs 200 crore in Marg Karaikal Port, a unit of MARG Ltd, for a minority stake, reports agency.
The port will use the funds to expand capacity to 28 million metric tonne per annum, the company said in a statement. MARG Karaikal Port is an all-weather port on the south east coast of India. Last year, Ascent Capital invested about Rs 200 crore to pick a minority stake in the firm.
The Indian Infrastructure Fund backed by India's IDFC and Citigroup had invested in the port in 2010.