Bain Capital buys 30% stake in JM Baxi cargo terminal unit for ₹1,500 crore
February 23, 2021
International Cargo Terminals and Infrastructure, a unit of the JM Baxi group, runs container handling terminals at Visakhapatnam
International Cargo Terminals and Infrastructure, a unit of the JM Baxi group, runs container handling terminals at Visakhapatnam×
The logistics firm will use investment to pare debt, fund expansion
The US-based Bain Capital Private Equity has invested about ₹1,500 crore for a 30 per cent stake in International Cargo Terminals and Infrastructure Pvt Ltd, a unit of Mumbai-based JM Baxi Group, in one of the largest deals in the Indian port logistics business.
Plan for new cargo terminals along DFC
Companies can own and operate private freight terminals near stations
Top global and domestic firms are keen to develop and operate multimodal logistics parks, freight terminals and parcel terminals along India’s dedicated rail freight corridor network. Among them are Adani Logistics, CONCOR, DP World, CMA CGM, JM Baxi, PSA International, APM Terminals, TVS Logistics and Gateway Rail Freight.
The Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) is looking at companies that can own and operate private freight terminals (PFTs) near stations to garner more cargo to its network.
The plan is to permit private firms develop and manage these terminals on their own land located near DFC railway stations, which will be linked by rail, sources said.