Cyril Amarchand Mangaldas acted as Lender’s counsel to the International Finance Corporation (IFC) in connection with financial assistance of up to USD 70,000,000 (United States Dollars seventy million only) (approximately INR 6,700,000,000 (Indian Rupees six billion seven hundred million only)) to Jawaharlal Nehru Port Authority (JNPA) to fund the installation of shore power supply infrastructure across JNPA’s terminals.
The transaction is India’s first “blue financing” in the maritime sector and the first such blue-finance deal for port infrastructure in the Asia-Pacific region. It also represents the first investment by a multilateral finance institution in an Indian major port, with JNPA set to become the first Indian port to deploy shore power technology at a commercial scale.
The transaction was led by Santosh Janakiram, Senior Partner; and Gayatri Shanker, Partner; with support from Shehryar Khanum, Consultant; Madiha Akhtar and Aakanksha Pathak, Associates.
