Financial closure for Ennore Container Terminal is progressing after a delay, said Eredene Capital.
The UK-based investor, which won the bid for the terminal in November 2009, is talking to State Bank of India for funding.
Eredene focuses primarily on ports, port services, logistics and transportation.
It is part of a consortium, led by the Spanish port operator, Grup Marítim TCB, to build and run the new container terminal in the port of Ennore.
The 30-year concession entails a combined debt and equity investment in the region of £207 million in what will be one of the largest single operator container terminals in India.
According to the original plan, the terminal's construction was expected to begin last year, allowing ships to be handled in 2013.
However, with the delay in financial closure, it will be difficult to meet the deadline, said sources.
The Eredene Group has invested £44.6 million in 11 projects in India - nine in ports and port services, logistics and distribution warehouses, one in an IT office and one in a large-scale, affordable housing development.