KKR has agreed to acquire a majority stake in Cisternina Logistics, a bulk liquid and gas storage and logistics business in India, through its Asia Pacific infrastructure strategy. Sep 29, 2026.

Cisternina will use the investment to buy the liquid storage terminal and rail business of Ganesh Benzoplast (GBL), which will serve as the anchor asset for a national platform. The GBL business operates one of India’s leading privately owned tank farms. It was established at Jawaharlal Nehru Port in the early 1990s and now has about 500,000 kilolitres of operating and under-construction storage capacity across JNPT, Cochin, and Goa.

Cisternina was founded in 2024 by infrastructure veterans Amit Saboo, Kartik Deuskar, and Puneet Kedia, all of whom have previously worked with global private equity firms. It aims to build a network of around 1.5 million kilolitres of tank capacity, alongside gas distribution networks, serving the energy, chemicals, bulk liquids, and edible oil sectors. India’s coastal infrastructure handles about 95% of the country’s external trade by volume, yet the liquid storage market remains fragmented.

The platform plans to grow through acquisitions, brownfield expansion, and greenfield projects. It has already signed memoranda of understanding with Chennai, Goa, and Cochin ports. KKR will invest in management, governance, operating systems, and safety standards. Ravi Thanvi, director for real assets at KKR India, said the firm sees an opportunity “to apply this platform-building approach to India’s liquid and gas logistics sector”.