Trinity Plc has bought a 10.43 per cent stake in Pipavav Shipyard Ltd for Rs 104 crore. The latter is a company promoted by Sea King Infrastructure, which is owned by Nikhil Gandhi.

The existing investors in Pipavav Shipyard include IL&FS and Exim Bank who hold a 51 per cent stake in the company. This is the second investment by Trinity in the Indian infrastructure sector. It had earlier invested $9.4 million in IL&FS Transportation & Networks for a 2.5 per cent stake.

Pipavav Shipyard plans to build the largest integrated ship building yard in India with a capacity of 300,000 tonne (dead weight tonnage) as against Kochi which has a capacity of 125,000 tonne.

Trinity also plans to build a 150 acre township in the vicinity of the shipyard in Pipavav. It will have housing, recreational facilities, schools, hospitals and commercial offices.

Posted on 01/31/07, 5:41 PM
in: Deals, Main Page, Private Equity
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