GIP buys into Indian dream

Private equity fund Global Infrastructure Partners has bought a 25% interest in Chennai Container Terminal (CCT), India’ s second largest private container terminal in India overall by traffic volume.

According to the fund, since its opening in 2001, CCT’s volume has grown at a compounded annual rate of 18.7%, making it the second fastest growing container terminal in the country.Originally built and developed by P&O Ports, CCT is now operated by Dubai Ports World, which holds the remaining 75% interest in CCT. The transaction remains dependent on official regulatory clearance.