Mumbai, Nov 3 (PTI) The country’s biggest container port JNPT’s request to raise Rs 1,500 crore through a bond sale has been rejected by the Finance Ministry, a top port official said today. JNPT Chairman L Radhakrishnan said it will now have to borrow the money required for the dredging project from the market at higher costs. “The Government says that you have enough money,” he told reporters on the sidelines of the CII Logistics Summit here, adding that the cash reserves with Jawaharlal Nehru Port Trust (JNPT) would be used to fund land acquisition for the fourth terminal as commercial lenders do not support land acquisition while for dredging project, funds would be raised from the market.
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