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Adani Ports to acquire balance 25% stake in Krishnapatnam Port

Capital Market 

For consideration of Rs 2800 cr

Adani Ports & Special Economic Zone has signed 01 April 2021 with Vishwa Samudra Holdings, to acquire balance 25% stake of Adani Krishnapatnam Port (Krishnapatnam Port) for consideration of Rs 2800 crore.

Post-acquisition of 25% stake, Krishnapatnam Port will become wholly owned subsidiary of the Company.

Krishnapatnam Port is engaged in the business of handling containers, coal, break bulk and other bulk cargo including liquid cargo.

Krishnapatnam Port is an all-weather, deep water port has multi-cargo facility with a current capacity of 64 MMTPA. With a waterfront of 20 km and 6,800 acres of land, Krishnapatnam Port has a master plan capacity of 300 MMTPA and a 50 year concession.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, April 05 2021. 09:11 IST