Investment will support the acquisition of Ganesh Benzoplast’s liquid storage terminal and rail business, which will anchor Cisternina’s India expansion
Global investment firm KKR will make a majority investment in Cisternina Logistics to back its acquisition of the liquid storage terminal and rail business of Ganesh Benzoplast (GBL), creating the anchor asset for an India-focused bulk liquid and gas storage platform, the firm said on Tuesday.
KKR did not disclose the value of the investment. Cisternina, established in 2024, plans to use the GBL business to expand its storage and logistics operations across India through acquisitions and the development of new infrastructure.
The platform will serve customers across the energy, chemicals, bulk liquids and edible oil sectors, KKR said in a statement.
GBL’s liquid storage terminal business operates a tank farm network at key Indian ports. Established at Jawaharlal Nehru Port in the early 1990s, the business has about 500,000 kilolitres (KL) of operating and under-construction storage capacity across JNPT, Cochin and Goa.
The acquisition comes as demand for bulk liquid storage and related logistics infrastructure is expected to increase over the next decade. India’s coastal infrastructure handles about 95 per cent of the country’s external trade by volume, according to KKR.
The bulk liquid storage and logistics market remains fragmented, with relatively few scaled, professionally managed operators with a presence across multiple locations, the firm said.
“With KKR’s investment and infrastructure expertise, Cisternina plans to scale through acquisitions, brownfield expansion and greenfield development, while investing in management capabilities, governance, operating systems and safety standards,” it said.
Cisternina will pursue a combination of acquisitions, brownfield expansion and greenfield development as it builds the platform, while also investing in management systems, governance, operating processes and safety standards.
KKR is making the investment through its Asia Pacific infrastructure strategy. India is a key market for the firm’s infrastructure business, with its investments and experience spanning logistics, transportation, renewable energy and power transmission.
