KGL Investment Company, a private equity unit of the Kuwaiti logistics group KGL, has announced its intention to invest some $500 million on port projects in emerging markets.
According to managing director Marsha Lazareva, the $500 million 'special fund' could be completely amassed by summer this year, while $250 million has already been raised.
Explaining the focus of their proposed investments, Lazareva told Gulf News that KGL is “looking for projects that can be developed operationally and financially.”
KGL is said to be keen on stakes in ports and related businesses in the Middle East, Asia, Africa, Eastern Europe and Latin America.
According to Lazareva, “the common factors in these markets are strong GDP growth and growing demand for logistics.”
Lazareva says that potential projects are already being considered in Saudi Arabia, Syria, the UAE, Algeria, Egypt, Mozambique, Thailand, Kenya, Gabon, China, the Philippines and India.
Although she was not able to go into further details, Lazareva was able to confirm that KGL has so far committed some $104 million in four projects in Egypt, Jordan, Singapore and Africa.
Portworld had reported last year that KGL is in joint venture to develop a $200 million six berth project at Egypt's container port of Damietta.
The other JV partners include the China Shipping (Group) Company, the CMA CGM Group and United Arab Shipping Co.
First phase development of the six berths is expected to be completed and come on stream end 2008 with a handling capacity of 2.5 million TEUs per year.
Completion of second phase development is slated to boost the port's handling capacity to four million TEUs per year.
Lazareva explained that ports are a “hot business” these days and attract a lot of attention from private equity companies and banks keen to offer them financing.
Reports have backed that sentiment, saying that investors are keen to make forays into port projects which have been growing on the back of rising international trade.
According to managing director Marsha Lazareva, the $500 million 'special fund' could be completely amassed by summer this year, while $250 million has already been raised.
Explaining the focus of their proposed investments, Lazareva told Gulf News that KGL is “looking for projects that can be developed operationally and financially.”
KGL is said to be keen on stakes in ports and related businesses in the Middle East, Asia, Africa, Eastern Europe and Latin America.
According to Lazareva, “the common factors in these markets are strong GDP growth and growing demand for logistics.”
Lazareva says that potential projects are already being considered in Saudi Arabia, Syria, the UAE, Algeria, Egypt, Mozambique, Thailand, Kenya, Gabon, China, the Philippines and India.
Although she was not able to go into further details, Lazareva was able to confirm that KGL has so far committed some $104 million in four projects in Egypt, Jordan, Singapore and Africa.
Portworld had reported last year that KGL is in joint venture to develop a $200 million six berth project at Egypt's container port of Damietta.
The other JV partners include the China Shipping (Group) Company, the CMA CGM Group and United Arab Shipping Co.
First phase development of the six berths is expected to be completed and come on stream end 2008 with a handling capacity of 2.5 million TEUs per year.
Completion of second phase development is slated to boost the port's handling capacity to four million TEUs per year.
Lazareva explained that ports are a “hot business” these days and attract a lot of attention from private equity companies and banks keen to offer them financing.
Reports have backed that sentiment, saying that investors are keen to make forays into port projects which have been growing on the back of rising international trade.