Highlights
| Amount invested to 30 September 2011 |
£7.3m |
| Ownership stake |
8% |
| Sector |
Marine operations & maintenance |
| Location |
Operations at 18 ports
Head office - Hyderabad |
| Progress to date |
Profitable & dividend paying |
Summary
Ocean Sparkle Limited (OSL) is India’s leading port operations and marine services company in which Eredene has an 8% stake. The privately owned Hyderabad-based company generated revenue of £39.5m for the year ended March 2011 (2010 £34.3m), profit before tax of £7.4m (31 March 2010: £8.4m) and paid a dividend.
OSL operates India’s largest fleet of harbour tugs with a presence in most of the leading ports, including JNPT (Mumbai), Mormugao Port (Goa), Pipavav Port (Gujarat), Ennore Port (Tamil Nadu), Reliance Port and Terminals Limited (Jamnagar, Gujarat) and Cochin Port (Kerala). It has three joint ventures with the Port of Singapore Authority (Marine) in India to provide port operations and marine services, and a joint venture operation in Oman.