Global Infrastructure Partners Picks Up 25% In Chennai Container Terminal
Global Infrastructure Partners (GIP), a leading international private equity firm focused on infrastructure asset investments, has picked up a 25 per cent interest in Chennai Container Terminal Pvt Ltd (CCT). The financial terms of the transaction were not disclosed. GIP, in which Credit Suisse and General Electric are the founding investors, has made the investment through its portfolio company, International Port Holdings.
CCT is a state-of-the art facility located within Chennai Port (on the South East Coast of India), which serves an important trade route between Europe and the Far East. CCT is also the second largest private container terminal in India overall by traffic volume. Since its opening in 2001, CCT’s volume has grown at a compounded annual rate of 18.7 per cent, a release said.
CCT was built and developed by P&O Ports of Australia and is now operated by Dubai Ports World, which holds the remaining 75 per cent interest. The transaction is conditional on obtaining regulatory clearance from the Government of India and approval from the Chennai Port Trust.
Adebayo Ogunlesi, Chairman and Managing Partner of Global Infrastructure Management, said that he was delighted one of their first emerging market investments was CCT, which is a high growth asset within India’s manufacturing hub.
GIP invests in global infrastructure assets across both OECD and select emerging market countries. It targets investments in single assets, and portfolios of assets and companies in the energy, transport and water sectors - including power generation and transmission, gas storage and pipelines, water assets, airports, air traffic control, ports and railroads. The firm has offices in New York, London and Hong Kong.
