India: Ennore Port to Raise Money for Dredging

Ennore Port Limited has announced a plan to enter the debt capital market to raise funding for dredging, improve port connectivity and set up a coal berth. It will issue tax-free secured, redeemable non-convertible bonds.

The bond issue aggregates up to Rs. 2,500 million, with an option to retain over-subscription up to Rs. 2,500 million aggregating to a total of Rs. 5,000 million.

The Coupon rate for Qualified Institutional Buyers (QIB), Corporate, High Net Worth Individuals (HNIs) has been fixed at 8.36% p.a. for 10 years, 8.75% p.a. for 15 years and 8.75% p.a for 20 years. For Retail Individual Investors, the coupon rate will be 8.61% p.a. for 10 years, 9.00% p.a. for 15 years and 9.00% p.a. for 20 years.

The funds raised through this Issue will primarily be used for capital dredging projects, augmenting the rail and road connectivity to the port and construction of third coal berth for captive use of Tamil Nadu Generation and Distribution Corporation Limited.

Press Release, February 18, 2014

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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