Gangavaram Port plans to borrow Rs700 cr

Gangavaram Port plans to borrow Rs700 cr

New Delhi:Gangavaram Port Ltd, the Indian port part-owned by Warburg Pincus Llc, may borrow as much as Rs700 crore from banks to add two berths.

A decision on the borrowing will be made within two-three months, Pranav Choudhary, chief financial officer, said on Monday in a phone interview from Hyderabad. The two berths will take 12-18 months to build, he said.

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