TT&A Assists ADB In $131 Mln Loan To Nhava Sheva Freeport Terminal

TT&A said it is assisting Asian Development Bank (ADB) in providing a term loan facility of up to $131 million to Nhava Sheva Freeport Terminal Private Ltd.

The key financing documents for the transaction were executed on 20 January, the law firm said. TT&A played a key part in tying up the Indian law documentation and providing regulatory advice on various aspects to complete the first leg of the transaction, it added.

TT&A said it continues to advise ADB on the pending Indian law documentation and requirements for the disbursement of the loan facility to Nhava Sheva Freeport Terminal, an equal joint venture (JV) between J M Baxi Ports & Logistics Ltd. and CMA Terminals.

Partners Gautam Saha and Ambarish Mohanty, Managing Associate Pratha Agarwal, senior associates Tania Chourasia, Yashika Jain and Bonny Singh as well as Associate Dev Jain are part of the TT&A team advising the regional development bank in the transaction.

TT&A said the JV will be involved in upgrading, operating and maintaining the Jawaharlal Nehru Port Container Terminal in Navi Mumbai.