APSEZ to Buy 75% Stake in Krishnapatnam Port
Adani Ports and Special Economic Zone (APSEZ) said on Friday it would buy a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of 135.72 billion rupees ($1.89 billion).The deal will take its domestic market share to 27% from 22% on a pan-India basis, the company said in a filing to exchanges.The port, located in the south eastern state of Andhra Pradesh, is the second-largest private sector port in India and handled 54 MMT of cargo in 2019."APSEZ will target…
Adani to Develop Container Port in Myanmar
India’s largest private multi-port operator Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar at an estimated cost of US$ 290 million.Adani Group said that all requisite permissions have been received in the form of Myanmar Investment Commission permit, to build and run a container terminal along the Yangon river for 50-years.APSEZ would be the first Indian company to set up a container terminal outside India, CEO Karan Adani said.Construction for phase one of the project will commence next month and will be completed by June 2021.
India's Thermal Coal Imports Could Rise 10 pct in 2019
India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday.Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister Narendra Modi’s government to cut the country's imports in a bid to reduce the trade deficit.Rajendra Singh, chief operating officer for coal trading at Adani Enterprises…
NYK Auto Logistics Pact with Adani Logistics
NYK Auto Logistics India (NALI), an NYK Group company, signed an agreement with Adani Logistics(ALL) to form a joint venture that specializes in the transportation of finished vehicles using automobile freight trains.The automotive production volume is expected to further increase in India, and there is increasing demand for transporting vehicles by rail, which places less of a load on the environment.NALI currently provides an integrated transport service for finished cars in India…
Mundra Port, Port of Montreal Sign Cooperative Agreement
On a trade mission to India, the Montreal Port Authority (MPA) has signed a Cooperative Agreement with Mundra Port, Gujarat State, north of Mumbai. This agreement aims to develop cooperation in marketing and business development while sharing information on marine operations and industry best practices. Mundra Port is India’s largest commercial port. A diversified port, it handles liquid and dry bulk and more than three million TEUs in annual container traffic. It is operated by Adani Ports and Special Economic Zone Limited (APSEZ).
IOC to Acquire 50% Stake in Mundra Terminal
India's state-owned Indian Oil Corporation Ltd. on Friday said it will acquire up to 50 percent stake in Adani Group-backed Gujarat State Petroleum Corp (GSPC) Mundra LNG import terminal in Gujarat for an estimated INR 756 crore (USD 118 million). According to the Press Trust of India, GSPL LNG is a joint venture of Gujarat State Petroleum Corp and Adani Enterprises. Adani and GSPC are equal partners in GSPL LNG. The board of India’s largest oil firm gave “in-principle approval for acquiring up to 50% equity in GSPL LNG Ltd…
CMA CGM, Adani Ports Sign Pact to Operate Mundra Port
French shipping group CMA CGM and Adani Ports and Special Economic Zone (APSEZ), India’s leading port infrastructure developer and part of the Adani Group, today signed a joint venture agreement, to operate a new container terminal (CT4) at Mundra Port, for next 15 years with an option to extend it twice for 10 more years. Rodolphe Saadé, CMA CGM’s Chief Executive Officer said: We have been present in India for over three decades now and employ 4,000 people. Speaking on this momentous occasion…
IOC Mulls Buying GSPC's Stake in Mundra Terminal
Indian Oil Corporation (IOC), the country's largest oil company, is in talks to buy debt-laden Gujarat State Petroleum Corp’s (GSPC) stake in the under-construction Rs.4,500 crore ($669 million) Mundra LNG import terminal, according to PTI. IOC is keen to buy a stake in Mundra terminal but does not want GSPC to exit the project completely. IOC wants the state government entity to remain as a part of the project for smooth operations, sources said. GSPC is looking to exit the 5 million tonnes a year LNG import terminal project, which is likely to be completed by mid-2017.
Adani Ports Profit Up
Adani Ports and Special Economic Zone Limited (APSEZ), India’s largest port developer and part of Adani Group, has announced the financial results for the fourth quarter and year ended March 31, 2016. Consolidated cargo across all ports handled by the company was 152 MMT in FY16, an increase of 5 percent, over corresponding period last year, including 3.35 million TEUs, up 17 percent from 2.87 million TEUs last year. Consolidated cargo for Q4FY16 stood at 37 MMT thereby continuing its leadership as the single largest commercial port in India.
Adani Offers Dhamra LNG Stake to IOC, GAIL
Adani Group has offered 49% stake in its Rs. 5,000-crore ($750 million) Dhamra liquefied natural gas (LNG) project in Odisha to the state-owned oil and gas companies GAIL India and Indian Oil Corporation (IOC), according to a PTI report. The company has written to the state-owned firms offering them 49% stake in the 5 million tonnes a year liquefied natural gas (LNG) import terminal planned at Dhamra. The Dhamra LNG project, having a capacity of five million tonnes per year, would be operational in 2018-2019.
Adani Kandla Terminal Hits 3.5 MT Volume
Adani Kandla Bulk Terminal Pvt. Ltd. Adani Kandla Bulk Terminal Pvt. Ltd. (AKBTPL) under the concession agreement with Kandla Port Trust (KPT) has successfully over shot the MGT in its 1st year of operations itself. “We at Adani Group share our Chairman’s vision of achieving 200 Million Metric Tons cargo by 2020. This milestone will take us one more step closer to our vision” said Mr. Ennarasu Karunesan, CEO APSEZ Mundra & Tuna Ports. AKBTPL was inaugurated by Hon'ble Minister of Road Transport and Highways and Shipping…
Adani Ports Eyeing Acquisitions
India’s biggest private port operator Adani Ports and Special Economic Zone (APSEZ) is actively looking at acquisitions to complete its “string of pearls” ports strategy, reports Livemint. CEO Karan Adani is leading the drive, it adds. In India, Adani Port is looking to expand its presence in Maharashtra and West Bengal, according to the paper. In overseas markets, the company is scouting for opportunities in Sri Lanka, Bangladesh, the US and Europe, apart from the ports planned in Australia.
Adani Enterprises Wins Global CSR Award 2016
Adani Enterprises Ltd, the flagship company of the Adani Group, a global integrated infrastructure player, was today awarded the prestigious “Energy and Environment Foundation Global CSR Awards 2016” in the Platinum category. The Award was presented on the final day of the 6th World PetroCoal Congress - 2016 held in New Delhi on 17th February, 2016. Mr. Uma Shankar, Adani Enterprises Ltd received the award that was presented by Ms. Meenakshi Lekhi, Hon’ble Member of Parliament in the Lok Sabha amidst high profile delegates. Present in the audience. Mr.
Adani Ports to Expand Terminal with MSC
Adani Group turns its flagship port and India’s biggest commercial port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co. SA (MSC), the world’s second biggest container shipping line. Adani Ports & SEZ Ltd (APSEZL), part of the Adani Group, said it will expand its existing terminal International Container Terminal Private Limited (AICTPL) at Mundra port to develop it into a transshipment hub.
Adani Mulls Necklace of Ports in India
The $10-billion Adani Group is stringing together a Sagar Mala or necklace of ports dotting India's coastline, said Karan Adani, reports ET. The group is keen to complete its own 'Sagarmala' (Necklace Ocean) dream by having presence in the three key states of Maharashtra, Karnataka and Andhra Pradesh, apart from setting up trans-shipment terminals in Southeast Asia and East Africa. “We are also keen to have trans-shipment terminals in Southeast Asia, especially in Myanmar and Bangladesh…
Adani Ports, L&T Ink Pact for Kattupalli Port Operations
Adani Ports has entered into a non-binding Memorandum of Understanding with L&T Shipbuilding Limited (L&T) for evaluating the operations of the port at Kattupalli, Tamil Nadu, with effect from October 1, 2015 for a period of one month. The development comes amid reports that Gautam Adani-led Adani group is likely to take over the operational and management control of L&T Kattupalli International Container Terminal near Chennai to strengthen its presence on the east coast. The definitive agreements would be entered into later.
Adani in Pact with Kerala for Vizhinjam Port
The government of Kerala State in India and Gujarat-based Adani Group has signed the work contract agreement for development of the Rs 7,525-crore ($12 billion) Vizhinjam International Deepwater Multipurpose Seaport. On July 15, 2105, Adani Ports and Special Economic Zone (APSEZ) had received 'Letter of Award' from Fisheries & Ports (E) Department, government of Kerala, for development and operation/maintenance of the Vizhinjam International Deepwater Seaport Project on public-private partnership mode on Design, Build, and Finance Operate & Transfer (DBFOT) basis.
APSEZ, NCML Ink Management & Services Deal
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and a part of Adani Group, a global integrated player, entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major Agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders, Importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from Post harvest storage to export or Import stages. Mr.
Adani Ports Consolidated PAT for Q1FY16 Up 13%
Adani Ports and Special Economic Zone Limited (“APSEZ”), India’s largest port developer and part of Adani Group, today announced the financial results for the quarter ended June 30, 2015. Consolidated cargo across all ports handled by the company was 40 MMT in Q1FY16, an increase of 17%,over corresponding quarter last year. In case of containers, the Mundra port handled 748,000 TEUs in Q1FY16 as against 681,000 TEU’s in corresponding quarter last year resulting in a 10 % growth as compared to growth of 3% aggregate growth in container volumes at all the major ports.
APSEZ to Develop Vizhinjam Port
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, has received “Letter of Award” for development of the Vizhinjam International Deepwater Seaport Project from Government of Kerala (GoK). We had keenly participated in this tender to ensure that Kerala gets its first deep water multi cargo port and India gets its first deep water transshipment port which has been missing till date. At present approximately 1.0 Million TEUs of Indian cargo is getting transshipped through foreign ports like Colombo.
Adani Gets Green Signal on Vizhinjam Port Project
The Kerala state government has issued an order to hand over consent letter to Adani Ports and Special Economic Zone Ltd (APSEZ) for establishing the Vizhinjam port. Within seven days Adani group has to give an official reply. Ports Minister K Babu said the final agreement will be signed within 45 days. Kerala Chief Minister Oommen Chandy said with the handing over of the consent letter all allegations being raised about the opposition to Adani Group has been proved wrong. “We have handed over the letter of intent to Adani Group today. It’s a clean project.
Adani Mulls Take Over of Katupalli Port
India's Adani Group is likely to take over the operational and management control of Larsen & Toubro (L&T) Kattupalli International Container Terminal near Chennai, reports Business Standard. Adani is in the final stage of getting into an arrangement with L&T to take over the terminal, which the Mumbai-based construction and engineering major built at a cost of Rs 4,000 crore ($645 million). It is learnt that the AP Moller–Maersk Group, a Danish business conglomerate, is also in the race to acquire the container terminal operations of the Katupalli port.
Odisha’s Paradip Port on the Verge of Closure?
Odisha Cooperation and Excise Minister Damodar Rout today alleged that there has been a big conspiracy to curtail the business of Paradip port in Odisha. He said the Central government has knowingly hatched a conspiracy to make Odisha’s Paradip port defunct. Dr. Rout said the Port which bagged the Peacock award for handling the highest cargo traffic last year is now facing an alarming situation of reduced traffic handling. Rout said: "After the Adani group had taken over the control of Dhamara port from L&T…
GAIL, IOC Join Dhamra LNG project
Gas Authority of India Limited (Gail) and Indian Oil Corporation (IOC) signed a memorandum of understanding (MoU) to join Adani Group promoted Rs 5,000-crore ($805 mln) Dhamra LNG Port (DPCL) project on the Odisha coast. The MoU comes within weeks of GAIL dropping plans to set up a floating LNG import terminal at Paradip. IOC too had in 2012 signed a MoU with Dhamra LNG Port Corp Ltd (DPCL) to develop a liquefied natural gas (LNG) terminal at the port. According to a Gail statement…
Adani Sails Closer to Vizhinjam Deep Sea Port
An empowered committee established by the Kerala State government in India has recommend the lone bid submitted by the Adani Ports and Special Economic Zone Ltd. (APSEZ) to build and operate a new International deep water seaport project at Vizhinjam. With this, Adani has scaled the first hurdle in winning the contract for constructing and operating the port. Interestingly, Adani Ports was the single bidder for the project. The committee’s recommendation will now go to the board of the Vizhinjam International Seaport Ltd (VISL)…
Adani's Commission Tuna Tekra Bulk Terminal at Kandla
Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of Adani Group, a global integrated player, today said it had commissioned a bulk terminal at Tuna Tekra, Kanda Port, with an annual handling capacity of over 20 million tonnes, further consolidating its leadership one position on the west coast of India. Nitin Gadkari, the Honourable Minister for Shipping, Road Transport and Highways inaugurated the terminal after the berthing of the project’s first vessel MV Sheng Ming earlier in the day. “The Tuna Tekra terminal is yet another feather in the Adani cap.