IndiaSphere

Eredene Capital, a fund owned by Yatra Capital, has invested Rs 40 crore in a container freight station (CFS) formed as a joint venture with Chennai based Sattva Business Group. The CFS will serve the port of Ennore in Tamil Nadu.
Eredene will invest up to £5 million (Rs 40 cr) for an 85% stake initially, which will be diluted in tranches as the business achieves certain milestones. An SPV will develop and operate the CFS at a site18 km away from Ennore port.
Eredene had in Sep 2007 invested £0.85 million (Rs 6.86 cr) for a 49% stake in a JV for a CFS at Vichoor (near Chennai port), which is currently serving the nearby port of Chennai. It also invested £3 million ($6.24 million) for a 40% stake in a 32-acre CFS project in the south of Gujarat, to develop the ... [Follow Original Article link for full content.]