APSEZ gets NCLT nod to acquire Gangavaram port; portfolio swells to 12 ports

AHMEDABAD: Adani Ports and Special Economic Zone (APSEZ) on Monday received a nod from the national company law tribunal (NCLT) – Ahmedabad and Hyderabad, to acquire Gangavaram Port Limited in Visakhapatnam.

With the acquisition of the remaining 58.1% stake through a share-swap arrangement, APSEZ will own 100% of Gangavaram Port. The acquisition will take APSEZ’s portfolio to 12 ports.

Gangavaram Port is the third largest non-major port capable of handling fully laden super cape size vessels with nine berths and free hold land of 1,800 acres and a 64 MMT capacity.

Karan Adani, CEO and whole-time director, APSEZ, said, “Gangavaram Port has excellent rail and road network connectivity and is the business gateway to the hinterland spread over eight states. The recent addition of a container handling terminal will enable us to accelerate our growth of cargo volumes”.

APSEZ will improve logistics synergies at GPL and propel it to a potential cargo volume of 250 million metric tonne (MMT). The all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 2 lakh deadweight tonne (DWT). With a master plan capacity for 250 MMTPA with 31 berths, GPL has sufficient headroom to support future growth.

The port handles a diverse mix of dry and bulk commodities including Coal, Iron Ore, Fertilizer, Limestone, Bauxite, Sugar, Alumina, and Steel. Gangavaram Port is the gateway port for a hinterland spread over eight states across eastern, southern and central India.


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