Adani Ports and Special Economic Zone (APSEZ) has acquired 97 percent of the shares of Marine Infrastructure Developer Private Limited (MIDPL), the developer and operator of Kattupalli port in India.
The share purchase agreement with Larsen and Toubro, MIDPL, L&T Shipbuilding and Adani Kattupalli Port Private Limited, will see APSEZ transform Kattupalli into a multi-commodity port, capable of handling containers, automobiles, breakbulk, general cargo, liquid cargo and project cargo.
APSEZ said there is space for expansion at Kattupalli port, if required; presently the port has two berths with a quay length of 710 m, six quay cranes and 15 rubber-tyred gantry cranes.
“Adani Ports is committed to make Kattupalli port one of the largest ports in southern India,” said Karan Adani, APSEZ ceo. He added that construction works to diversify the cargo mix would add new capacity to the port over the next three years.
“We are confident that with our superior infrastructure and efficient handling of cargo we will be able to reduce logistics cost of industries in the region and be one of the engines of growth.”