Ennore Port decides to scale down fund raising plan by 50%

Ennore Port Ltd (EPL), India's first corporate port set up by the Government of India, has decided to scale down its fund raising plan. The Port which originally planned to raise Rs 1,000 crore through tax bonds, now said it is planning to raise only 50% of it.

 

MA Bhaskarachar, chairman and managing director, EPL said originally it was planned to raise Rs 1,000 crore through tax bonds, but now it was decided to raise only Rs 500 crore. 

 

The Port is waiting for Government's notification and it hopes that it would get the same in next two to three months.

 

The fund raising plan is to buy 700 acres from the salt department land in and around the Port, for future expansions and other activities, he added.