Adani Ports and Special Economic Zone Limited (APSEZ), has entered into a second strategic partnership with Terminal Investment Limited (TiL), an associate of Mediterranean Shipping Company (MSC), the world’s largest container shipping line, for the operation of Adani Ennore Container Terminal Private Limited (AECTPL).
Terminal Investment Limited, through its fully owned subsidiary Mundi Limited, will acquire a 49 per cent stake of AECTPL from Adani Ports for a consideration of Rs 247 crore. The transaction, subject to regulatory approvals, will see the APSEZ stake decrease to 51 per cent in AECTPL.
Earlier in 2013, TiL had joined hands with Adani, India's largest private port operator, to form Adani International Container Terminal Private Limited (AICTPL), which operates CT3 container terminal at Mundra Port, the largest private commercial port in India located in Gujarat.
Located 30 km north of Chennai Port, the Adani Ennore Container Terminal strategically offers round-the-clock congestion-free approach roads for seamless cargo movement to Bengaluru presenting deep hinterland reach.
In 2014, APSEZ won the rights to build the 1.4 million twenty foot equivalent units (TEUs) — capacity container terminal at Kamarajar Port Limited, after placing a revenue share of 37 percent. As per the concession agreement, Adani will operate the terminal until 2044.
The terminal with a quay length of 400 metres, has currently an annual handling capacity of 8 lakh TEUs, which will be extended to 1.4 Million TEUs in the second phase.
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!