Eredene Capital PLC, an AIM-listed PE firm focused on investments in Indian infrastructure, is now going ahead with a proposed fund-raising plan to mop up around £40 million ($65 million). It has already received commitment from some of its existing shareholders to participate in the fund-raising.

This would make way for investments into its port project in India. Eredene Capital, which has investments in Indian ports, logistics and transport infrastructure, had said last December that its proposed fund-raising plan for the Ennore container terminal in Tamil Nadu and the pipeline port and infrastructure projects had been postponed, pending the appointment of a new non-executive chairman. But last month, the firm appointed Struan Robertson as the chairman and it has now revived the plan.

Last year, a consortium including Eredene Capital Plc. won the bid to build and operate the £207 million ($312 million or Rs 1,433.6 crore) container terminal at Ennore Port in Tamil Nadu. Ennore Port is one of the 13 major ports in one of the world’s fastest-growing economies. The consortium with Eredene includes Spanish port operators Grup Marítim TCB SL, international construction group Obrascón Huarte Lain SA and India’s Lanco Infratech Ltd.

Recently, Eredene had also invested $11.1 million in Ocean Sparkle Ltd (OSL), a Hyderabad-based port operations and marine services company in India.

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