Adani Ports and Special Economic Zone Ltd (APSEZ), the most important transport utility in India, has accomplished the acquisition of Karaikal Port Private Limited (KPPL) pursuant to NCLT approval.
Earlier, APSEZ was declared because the profitable decision applicant below the Corporate Insolvency Resolution Process (CIRP) of KPPL. Karaikal Port is an all-weather deep-water port on India’s jap coast that was developed on the Build, Operate and Transfer format below the Public-Private Partnership by the Government of Puducherry.
The Karaikal Port was commissioned in 2009, and was developed within the Karaikal District of the Union Territory of Puducherry, round 300 KMS south of Chennai. It is the one main port between Chennai & Tuticorin, and its strategic location permits the port quick access to the industrial-rich hinterland of Central Tamil Nadu.
The port will get a 14-meter water draft and has a land space of over 600 acres. Its present infrastructure contains 5 operational berths, 3 railway sidings, a mechanized bulk cargo dealing with system together with mechanized wagon-loading and truck-loading techniques, 2 cell harbour cranes and a big cargo space for storing that features open yards, 10 lined warehouses and 4 liquid storage tanks. With a built-in cargo dealing with capability of 21.5 MMT, the port primarily handles, Cement, Fertilizer, Limestone, Steel & Liquids. The upcoming CPCL’s 9 MMTPA new refinery at Nagapattinam in Tamil Nadu presents a chance for Karaikal Port to deal with an extra massive quantity of liquid cargo.
Commenting on the event, Mr Karan Adani, CEO and Whole-time Director, APSEZ stated, “The acquisition of Karaikal Port is one other milestone in consolidating our place as India’s largest transport utility.
With the acquisition of Karaikal port APSEZ now operates 14 ports in India. APSEZ will spend an additional INR 850 crores over time to improve infrastructure to scale back the logistics price for the shoppers. We are envisaging to double the capability of the port within the subsequent 5 years and likewise add a container terminal to make it a multipurpose port.” In FY 2023, Karaikal Port dealt with ~10 MMT of cargo and acquisition consideration of INR 1,485 crores implies an EV/EBITDA a number of of ~8x on the FY23 EBITDA quantity.
Adani Ports & Special Economic Zone
Adani Ports and Special Economic Zone Ltd (APSEZ), part of the globally diversified Adani Group has developed from a port firm to an Integrated Transport Utility offering end-to-end options from its port gate to buyer gate.
It is the most important port developer and operator in India with 6 strategically situated ports and terminals on the west coast (Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa and Dighi in Maharashtra) and 6 ports and terminals on the East coast of India (Dhamra in Odisha, Gangavaram, Visakhapatnam and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai) representing 24% of the nation’s whole port capability, thus offering capabilities to deal with huge quantities of cargo from each coastal areas and the hinterland.
The firm can also be creating two transhipment ports at Vizhinjam, Kerala and Colombo, Sri Lanka.
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