Khaitan & Co advised Jawaharlal Nehru Port Trust (JNPT) in relation to an external commercial borrowing of $400m from State Bank of India, Hong Kong and DBS Bank Limited, Singapore for a road project comprising 6/8 lane road connectivity to the Jawaharlal Nehru Port by Mumbai-JNPT Port Road Company Limited, a special purpose vehicle of JNPT, NHAI and CIDCO.
Jawaharlal Nehru Port, also known as Nhava Sheva, is the largest container port in India.
Devidas Banerji (Partner), Madhuparna Dasgupta (Principal Associate), Ahana Sinha (Senior Associate) and Rolwine Alva (Senior Associate) represented the client on the transaction. This ECB funding availed by JNPT is the first of its kind for a major port in India and opens up an economical avenue for major and government ports to raise foreign currency funds by accessing international markets.
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