IndiaSphere

Private equity biggie Warburg Pincus has picked up a 30% stake for $35 million (Rs 150 crore) in India’s deepest port, Gangavaram Port Ltd at Gangavaram, Andhra Pradesh, reports Mint.The investment in the first phase of the project is expected to be Rs 1,700 crore, and the inauguration of the port is expected to be in the first week of October. Gangavaram is located just 15 km away from the Union government-owned Visakhapatnam port.
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