APSEZ ac­quires Kat­tupalli Port from L&T

Maritime Gateway - - News -

APSEZ has ex­e­cuted a Share Pur­chase Agree­ment be­tween Larsen and Toubro Ltd, Marine In­fra­struc­ture De­vel­oper Pvt Ltd (MIDPL), L&T Ship­build­ing

Ltd and Adani Kat­tupalli Port Pvt Ltd to ac­quire 97 per cent shares of MIDPL. MIDPL is the de­vel­oper and op­er­a­tor of Kat­tupalli Port.

Karan Adani, CEO, APSEZ said,"we are go­ing to start our con­struc­tion to di­ver­sify the cargo of the port and will be adding 40 MMT of new ca­pac­ity in next 3 years. We are con­fi­dent that with our su­pe­rior in­fra­struc­ture and ef­fi­cient han­dling of cargo, we will be able to re­duce lo­gis­tics cost of in­dus­tries in the re­gion and be one of the en­gines of growth."

With back-up area of 322 acres, Kat­tupalli Port pro­vides am­ple space for fu­ture ex­pan­sion to fa­cil­i­tate trade re­quire­ments. APSEZ plans to trans­form Kat­tupalli into a multi-com­mod­ity port to han­dle car­goes like con­tain­ers, au­to­mo­biles, break­bulk, gen­eral cargo, liq­uid cargo and project cargo. Presently, the port has two berths with quay length of 710 m, 6 quay cranes, 15 RTG cranes and 5,120 ground slots with the ca­pac­ity to han­dle 1.2 mil­lion teus per an­num.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.