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Press Releases

KARAIKAL PORT FLAGS OFF ITS FIRST RAIL CARGO
~ Landmark achievement within nine months of launch ~

Karaikal, January 27, 2010: MARG Limited, India's leading diversified infrastructure development company promoted Karaikal Port, today has reached a landmark milestone achievement by successfully flagging off the first railway cargo from the port. The first railway rake was flagged off by Thiru. V. Vaithilingam, Hon'ble Chief Minister of Puducherry, and Karaikal, January 27, 2010: MARG Limited, India's leading diversified infrastructure development company promoted Karaikal Port, today has reached a landmark milestone achievement by successfully flagging off the first railway cargo from the port. The first railway rake was flagged off by Thiru. V. Vaithilingam, Hon'ble Chief Minister of Puducherry, and Thiru E. Valsaraj, Hon'ble Minister for Home & Port of Puducherry, inaugurated the administrative block, in the august presence of Dr. Iqbal Singh, His Excellency Lt. Governor of Puducherry, Thiru V. Narayanasamy, Hon'ble Union Minister of State for Planning & Parliamentary Affairs, Government of India, Mr GRK Reddy, Chairman & Managing Director, MARG Limited, and officials from the Southern Railways. Madras Cements' executives were also present during the event. inaugurated the administrative block, in the august presence of Dr. Karaikal, January 27, 2010: MARG Limited, India's leading diversified infrastructure development company promoted Karaikal Port, today has reached a landmark milestone achievement by successfully flagging off the first railway cargo from the port. The first railway rake was flagged off by Thiru. V. Vaithilingam, Hon'ble Chief Minister of Puducherry, and Thiru E. Valsaraj, Hon'ble Minister for Home & Port of Puducherry, inaugurated the administrative block, in the august presence of Dr. Iqbal Singh, His Excellency Lt. Governor of Puducherry, Thiru V. Narayanasamy, Hon'ble Union Minister of State for Planning & Parliamentary Affairs, Government of India, Mr GRK Reddy, Chairman & Managing Director, MARG Limited, and officials from the Southern Railways. Madras Cements' executives were also present during the event. and officials from the Southern Railways. Madras Cements' executives were also present during the event.

Karaikal Port, a new bulk and break-bulk cargo terminal dealing in multiple commodities, has been operational for 9 months and has handled over 0.5 million tonnes of various types of cargo, and transported by road. The nearest railway station, Nagore, is merely 1 km from the port, but is separated by the river Vettar. The bridge on this river was completed and tested on January 12, 2009, paving way for the railways to construct a railway siding in Karaikal Port.

The first cargo transported by rail belonged to Madras Cements Ltd., and was destined towards Ichengadu in Ariyalur, where their cement factory is located. The cargo transported was pet coke and 1 rake was loaded at the newly constructed railway sidings at the Karaikal Port. Madras Cements Ltd., has regularly brought vessels through Karaikal Port in the last 8 months owing to the proximity of the port to their plants.

Mr GRK Reddy, Chairman & Managing Director, MARG Ltd., said, "The Greenfield Karaikal Port is our commitment towards catering to India's infrastructural needs. Railway connectivity to the Private Port, in addition to the already well-established road connectivity, will enhance the economic potential of Tamil Nadu and Puducherry. It's a great pleasure to be progressing in steadfast speed on the project."

The commissioning of the railway connectivity will result in a significant increase in the cargo evacuation rate from Karaikal Port, which will allow more efficient utilisation of the storage area, thereby enhancing the cargo handling capacity. A number of customers prefer evacuation of cargo through rail because it is faster, and large volumes can be mobilised at a time. Rail movement is specifically significant for bulk cargo, and this is here that Karaikal Port specializes in.

About MARG Limited

MARG Ltd., is among India's leading diversified infrastructure development companies. Established in 1994, MARG Ltd. is listed on the Bombay Stock Exchange. Headquartered in Chennai, MARG Limited is promoted by the first-generation entrepreneur Mr. G R K Reddy.

The company pioneered infrastructure development on the Chennai IT Corridor. The company's business roadmap encompasses 4 verticals – EPC Contracting – which has over 500 man years of technical experience in handling deep excavation works, high rise buildings, Power sub-stations, High power (above 132 KV) transmission lines, Marine Infrastructure, Industrial Clusters and Living Spaces.

Marine Infrastructure handles Ports & Logistics & Dredging; Industrial Clusters – for SEZs and Industrial Townships, Airports, Power projects; and Real Estate - to develop commercial and residential spaces. Under the real estate commercial vertical, MARG has already developed over 1 million sq ft of commercial space for clients like TCS, Scope International, among others. The company had recently launched, MARG ProperTies, the umbrella brand for all offerings in the living spaces/homes segment. The company's key infrastructure projects include Karaikal Port, MARG Swarnabhoomi, MARG Junction - Mall, and Bijapur Airport.

The company's esteemed clientele include Scope International (Standard Chartered Bank), TATA Consultancy Services, BHEL, Enercon India, Slash Support Systems, L&T, Indian Railways and Elcot, among others.