The Business Bytes
TBB BUREAU
AHMEDABAD, FEB 16, 2021
Adani Ports and Special Economic Zone Ltd (APSEZ) has completed 100 per cent acquisition of Dighi Port Limited (DPL) for Rs 705 crore on February 15, and with this, established the company’s footprint in the state of Maharashtra.
This would enable APSEZ to service customers in the state, including the highly industrialised areas in the Mumbai and Pune regions, the company said in a statement.
APSEZ would invest over Rs 10,000 crore to develop DPL into a multi-cargo port with world class infrastructure and for the development of rail and road evacuation infrastructure for seamless cargo movement. The investment would also be used to strengthen and repair existing infrastructure and development of facilities for dry, container, and liquid cargo, company sources said.
Karan Adani, CEO and Whole Time Director of APSEZ, said: “The successful acquisition of DPL adds another milestone in Adani Port’s target of creating a string of ports to increase service coverage to the entire economic hinterland of India. With our growth focus, experience, and expertise in turning around acquisitions, we are confident of making DPL value accretive for all our stakeholders.”
APSEZ is the largest port developer and operator in India with 12 strategically located ports and terminals – Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Krishnapatnam in Andhra Pradesh. It represents 24 per cent of the country’s total port capacity.
