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Our Bureau

Chennai, Sept. 5 Sical Logistics Ltd, a Chennai-based logistics service provider, will raise $26 million (around Rs 95 crore) from Old Lane Mauritius IV Ltd, a vehicle of Old Lane India Opportunities Funds.

The investment will be for a newly formed subsidiary called Sical Infra Assets, which will have the company’s various asset-heavy, capital-intensive, longer gestation infrastructure-based businesses. This includes the multimodal logistics hubs at Nagpur, Sical Iron Ore Terminal at Ennore, Container Rail Project, and the container terminals along with PSA Singapore at Tuticorin and Chennai as well as Sical Distriparks.

The decision to segregate the short cycle service-oriented businesses from the longer duration build, operate and transfer type assets was to crystallise the value of investments made by Sical into its special purpose vehicles, according to a Sical press release.

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Sical Logistics to raise $26 m

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