Adani Ports Gets Go-Ahead to Acquire Kattupalli Port

Adani-Ports-Kattupalli-Port

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest port developer and operator, has won approval from the Tamil Nadu government to acquire Kattupalli port located at Ennore near Chennai from L&T Shipbuilding Ltd, crossing a hurdle in the plan that was announced in November, at least two people briefed on the development said.

“The state government issued an order in early March approving the deal before the model code of conduct for poll-bound Tamil Nadu came into effect,” a government spokesman said.

Located 35km from Chennai, Kattupalli started commercial operations in January 2013 from two berths with a total length of about 710 metres. The berths are designed to handle container, dry bulk and break-bulk cargo. There is environmental approval for further expansion.

The port has facilities including a container terminal with a capacity to load 1.2 million twenty-foot equivalent units (TEUs)—the standard size of a container—a year.

The port also has permission from the environment ministry to handle other clean cargo such as automobiles (cars, earth movers, trucks and buses), liquid non-hazardous cargo (edible oil, lube oil, etc.) and break bulk cargo (granite, gypsum, barytes, lime stone, steel and timber logs).

APSEZ and L&T have not disclosed the financial details of the deal.

Source: livemint

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