Adani Ports to acquire L&T's Kattupalli Port

MUMBAI: Adani Ports and Special Economic Zone (APSEZ), through its subsidiary Adani Kattupalli Port, has entered into an in principle agreement for the strategic acquisition of the Kattupalli Port in Tamil Nadu from L&T Shipbuilding.

The agreement entails Adani taking over the operations of the port, even as it awaits necessary approvals from the government. Kattupalli is a deep water allweather port with an international container terminal located 35 km from Chennai.

The port commenced commercial operations in January 2013 and has two berths with a total quay length of about 710 metres. The berths are equipped with six quay cranes and designed to handle container, dry bulk & break-bulk cargo.

Currently, the port has a cargo handling capacity of 1.2 million TEUs per annum. There is an environmental approval for further expansion.