Dighi Port looking to raise $100 m from overseas investors.

Dighi Port, a Greenfield private port 40 nautical miles from Mumbai, is seeking tie-ups with international port operators and investors to raise fresh capital to finance its expansion plans.

“We are having discussions with a couple of strategic investors and hope to wrap up a deal in the next three months, said Chairman and Managing Director Vijay Kalantri.

Dighi, which has so far invested about Rs. 18,00 crore, hopes to raise $100 million (about Rs. 600 crore) from international investors, said Kalantri during a media trip to the port in the weekend.

The focus now is to establish a 50-km link to the Konkan rail network and upgrade the road linking the national highway so as to ensure seamless flow of cargo to an from the port, said Kalantri. This will require and investment of over Rs. 1,500 crore, he added.

Starting operations in 2011, Dighi currently handles cargoes such as coal, bauxite and steel. Korean steelmaker Posco has set up a warehouse and a distribution centre at the port.

Last fiscal, the port handled one million tonnes of cargo and the current year target is three million tonnes. 'This is just a beginning. Large importers of bulk cargoes have shown interest in Dighi. We hope to get some foodgrains shipments soon,' said Kalantri.

Of the five proposed berths, only two are operational, the remaining three are expected come up in two years.


HBL