Adani Ports inks pact to buy L&T’s Kattupalli Port in TN

Adani Ports inks pact to buy L&T’s Kattupalli Port in TN

FPJ BureauUpdated: Friday, May 31, 2019, 09:01 PM IST
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The Kattupalli Port is located adjacent to Ennore Port, where APSEZ, part of the $10 billion Adani Group, is developing the Ennore container terminal |

New Delhi : Country’s largest port developer and operator APSEZ has entered into a pact with Larsen & Toubro for acquiring its Kattupalli Port in Tamil Nadu, a deal that may cost the company Rs 2,500 crore.

The buy is yet another step by Adani to build a network of ports across the Indian coastline and expand its footprint across the South East Coast.

The move comes on the heels of Adani Ports and Special Economic Zone (APSEZ) signing an MoU with Kerala to develop and operate Rs 4,089 crore Vizhinjam International Deepwater Multipurpose Seaport Project on PPP mode. L&T said it has entered into an in-principle agreement with Adani Kattupalli Ports Pvt Ltd (AKPPL), a subsidiary of APSEZ, for strategic sale of Kattupalli Port in Tamil Nadu.

Currently L&T operates both the port and shipyard under this entity. The acquisition is subject to approvals from the state as well as central government.

Kattupalli is a deep water all weather port with an international container terminal located 35 kms from Chennai, and well connected to the hinterland.

 Adani Ports said environmental approvals for further expansion of the port are already in place.

The Port commenced commercial operations in January 2013 and has two berths with a total quay length of about 710 meters. The berths are equipped with six quay cranes and designed to handle container, dry bulk & break-bulk cargo. The port has a cargo handling capacity of 1.2 million TEUs per annum.

Adani Group Chairman Gautam Adani said: “The Kattupalli port is a strategic complement to our Ennore Container terminal which is getting commissioned next year.  “Both these ports will substantially help reduce congestion in the region and will thereby help contribute to the rapid growth of the State of Tamil Nadu and the surrounding regions.”

Adani owns and operates seven ports and terminals – Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Orissa, Mormugao in Goa and Visakhapatnam.

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