Global investment firm KKR has signed definitive agreements under which funds managed by the firm will make a majority investment in Cisternina Logistics Private Limited, an Indian bulk liquid and gas storage and logistics company.
The investment will support Cisternina’s proposed acquisition of the liquid storage terminal and rail business of Ganesh Benzoplast Limited (GBL), which is expected to become the platform’s anchor asset. The company also plans to expand through additional acquisitions and the development of new storage infrastructure across India.
GBL business to provide anchor asset
GBL’s liquid storage terminal business operates one of India’s leading privately owned tank farms at Jawaharlal Nehru Port (JNP), where the facility was established in the early 1990s.
Founded in 2024, Cisternina aims to build an integrated storage and logistics platform serving customers across the energy, chemicals, bulk liquids and edible-oil sectors.
The company plans to use the GBL transaction as a base for expanding its presence across India’s key ports and industrial markets.
Demand for liquid storage expected to grow
India’s coastal infrastructure handles approximately 95% of the country’s external trade by volume. Demand across several bulk-liquid categories is also expected to grow over the next decade, supporting demand for storage, handling and associated logistics infrastructure.
The planned expansion is intended to combine existing terminal operations with additional storage capacity and logistics capabilities.
Cisternina outlines expansion strategy
Amit Saboo, Founder and Managing Director of Cisternina Logistics, said the company was established to develop an integrated liquid and gas storage and logistics platform providing storage and logistics solutions across India.
He said the proposed GBL transaction would provide Cisternina with an established operating base at strategic ports and a foundation for further expansion.
KKR expands infrastructure investment in India
Ravi Thanvi, Director for Real Assets at KKR India, said the firm sees an opportunity to apply its platform-building approach to India’s liquid and gas logistics sector.
KKR’s existing infrastructure investments in India span logistics, transportation, renewable energy and power transmission. Its portfolio includes Serentica Renewables, Hero Future Energies, pallet pooling business LEAP India, electric mobility platform Allfleet, and the Vertis, NHIT and IndiGrid infrastructure investment trusts.
The Cisternina investment would add liquid storage and logistics infrastructure to KKR’s Indian infrastructure portfolio.
The transaction remains subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed.
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