3i invests $161m in Krishnapatnam Ports Company Ltd

3i took a minority stake in KPCL in Feb2009 for $161m, promoted by Navayuga Group, who are also involved in medical transcription services. "The port ... is being developed by a highly experienced management team", said Anil Ahuja, Head of Asia at 3i and IIT Delhi graduate. The investment forms part of the $1.2bn India Infrustructure fund. 3i had previously invested in Mundra port in June 2007 with capital of $50m. Unloading times in India's ports lag behind other Asian ports.