Adani Ports now owns 100% of Krishnapatnam Port Limited
PORTS & SHIPPING

Adani Ports now owns 100% of Krishnapatnam Port Limited

Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired the remaining 25% stake in Krishnapatnam Port Ltd in Andhra Pradesh at a cost of Rs 2,800 crore from Vishwasamudra Holdings, making the port a wholly-owned subsidiary of the company.

Adani Group told the media that post-acquisition of the 25% stake for a cash consideration of Rs 2,800 crore, APSEZ's stake in Krishnapatnam port would increase to 100% from 75%.

Adani Group said with a waterfront of 20 km and 6,800 acres of land, Krishnapatnam port has a master plan capacity of 300 MMTPA and a 50-year concession.

The acquisition is subject to approvals under applicable laws, including approval of the Competition Commission of India (CCI), and the transaction is expected to be completed within three months. The company said the investment is in line with its strategy to increase its footprint in Andhra Pradesh.

Last month, APSEZ had said it would acquire a 58.1% stake in Gangavaram port, located in the northern part of Andhra Pradesh, from DVS Raju and family for Rs 3,604 crore, taking its total stake in the port to 89.6%.

The port is expected to have a volume of 38 mmt, a revenue of Rs 1,840 crore, and an EBITDA of Rs 1,325 crore in the fiscal year 2020-21. Its revenue stood at Rs 1,975 crore in 2019-20, and Rs 2,394 crore in 2018-19.

Krishnapatnam port is located on the east coast of India in the Nellore district of Andhra Pradesh, close to the Tamil Nadu border. It is an all-weather, deep water port with a multi-cargo facility and a current capacity of 64 MMTPA.

Image Source


Also read: APSEZ acquires 75 per cent stake in KPCL

Also read: Adani to acquire 58% stake in Gangavaram port

Adani Ports and Special Economic Zone Ltd (APSEZ) has acquired the remaining 25% stake in Krishnapatnam Port Ltd in Andhra Pradesh at a cost of Rs 2,800 crore from Vishwasamudra Holdings, making the port a wholly-owned subsidiary of the company. Adani Group told the media that post-acquisition of the 25% stake for a cash consideration of Rs 2,800 crore, APSEZ's stake in Krishnapatnam port would increase to 100% from 75%. Adani Group said with a waterfront of 20 km and 6,800 acres of land, Krishnapatnam port has a master plan capacity of 300 MMTPA and a 50-year concession. The acquisition is subject to approvals under applicable laws, including approval of the Competition Commission of India (CCI), and the transaction is expected to be completed within three months. The company said the investment is in line with its strategy to increase its footprint in Andhra Pradesh. Last month, APSEZ had said it would acquire a 58.1% stake in Gangavaram port, located in the northern part of Andhra Pradesh, from DVS Raju and family for Rs 3,604 crore, taking its total stake in the port to 89.6%. The port is expected to have a volume of 38 mmt, a revenue of Rs 1,840 crore, and an EBITDA of Rs 1,325 crore in the fiscal year 2020-21. Its revenue stood at Rs 1,975 crore in 2019-20, and Rs 2,394 crore in 2018-19. Krishnapatnam port is located on the east coast of India in the Nellore district of Andhra Pradesh, close to the Tamil Nadu border. It is an all-weather, deep water port with a multi-cargo facility and a current capacity of 64 MMTPA. Image Source Also read: APSEZ acquires 75 per cent stake in KPCL Also read: Adani to acquire 58% stake in Gangavaram port

Next Story
Real Estate

Thermocool Home Appliances Invests Rs 300 million in New Ghaziabad Plant

Thermocool Home Appliances, a leading UP-based home and kitchen appliances brand, has inaugurated a new manufacturing facility in Ghaziabad, reinforcing its growth, innovation, and sustainability commitments.Spanning 25,000 square meters, the plant features advanced automation, energy-efficient systems, and employee welfare facilities. With an initial production capacity of 1,800-2,200 units/day, the company plans to scale up to 3,000-4,000 units/day within six months and expand the facility by 50 percent over the next two years.The Rs 300 million investment will cater to rising demand across ..

Next Story
Building Material

Parallel debuts fluted glass collection, redefining luxury interiors

Parallel has launched an exquisite collection of tinted, extra-clear, and designer fluted glass, introducing a new dimension to contemporary interiors.Fluted glass, known for its vertical striations, diffuses light while sculpting silhouettes with a refined aesthetic. Parallel’s range includes smoky tinted variants, pristine extra-clear options, and metallic-infused designs, ideal for partitions, doors, and wall treatments that balance exclusivity with openness.Emphasising sensory design, the collection enhances spaces by creating dynamic light interactions. Crafted for luxury residences, ho..

Next Story
Building Material

Nivasa unveils luxury lighting collection blending artistry and innovation

Nivasa, a leader in luxury furniture design, has launched an exquisite lighting collection inspired by nature, combining sculptural aesthetics with masterful craftsmanship.Crafted from premium 304-grade stainless steel, each piece showcases a refined interplay of organic and sleek forms, offering a range of finishes for bespoke customization. Designed for grand foyers, intimate spaces, and sophisticated interiors, the collection merges contemporary finesse with global design standards.Collection highlights include:Circular Drummer’s Chandelier – A geometric yet fluid design in a light gold..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?