Shapoorji Pallonji Group is in talks with the promoters and private equity investors of Karaikal Port
Investing in an infrastructure project isnÂ´t really glamorous, more so if it happens to be a still developing economy like India that needs to first create some basic infrastructure. A new road project or a thermal power plant many not excite as much as investing in a cutting-edge technology start-up in IndiaÂ´s own Silicon Valley, Bengaluru
After its continuous losses, State-owned Shipping Corporation of India (SCI) has decided to exit its chemical carrier joint venture with Shapoorji Pallonji Group. The exit is part of a plan to trim losses at IndiaÂ’s biggest ocean carrier, which faces the prospects of losing its so-called navaratna tag if it posts losses in the year to March 2014, which would be its third in a row.
To set up a terminal for importing liquid gas or liquefied natural gas in ships government-run Hindustan Petroleum Corporation (HPCL) would partner with Mumbai-based infrastructure major Shapoorji Pallonji Group Total cost for the terminal is estimated at Rs 5,000 crore. HPCL and SP Ports Pvt Ltd, a unit of Shapoorji Pallonji Group, plan to set up the terminal at Chhara in Gujarat's Junagadh district through a 50:50 joint venture.
Indian Oil Corporation (IOC) is said to be searching a site for its proposed 15 million tonne refinery on the west coast. The company has reportedly approached Adani Group and Shapoorji Pallonji Group for land for the Rs 30,000 crore project. The refinery is to come up by the 13th five year plan and the firm plans to raise its refining capacity to 100 million tonnes by 2021-22.