Private sector port operator Essar Ports (EPL) said shareholders have approved its proposal to raise up to $1 billion through securities, from domestic and international markets to fund expansion plans. One of the country´s largest port operators, EPL plans to increase its cargo handling capacity from 104 million tonne per annum (mtpa), at present, to 194 mtpa.
A regulatory filing fro the company said shareholders have approved the ´issue of further shares, GDRs, ADRs, FCCBs, bonds, etc., in domestic and foreign markets for an amount not exceeding $1 billion.´
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