Adani Ports completes Rs 12K crore acquisition of Krishnapatnam Port Jalpaiguri tea garden suspends operations, 1,500 people left jobless

Adani Ports and Special Economic Zone Limited (APSEZ) on Monday announced the completion of the acquisition of the Krishnapatnam Port Company Limited (KPCL) for an enterprise value of Rs 12,000 crores. This will result in APSEZ, India's largest port developer, operator and the logistics arm of the Adani Group, to have a controlling stake of 75% in KPCL from the CVR Group and other investors.

Jalpaiguri tea garden suspends operation, 1,500 lef t jobless The Saili Tea Estate in West Bengal's Jalpaiguri district suspended operations on Monday, leaving around 1,500 people jobless ahead of the festive season, officials said. The management put up a suspension of work notice at the main gate in the morning, workers at the tea estate said. Negotiations were underway for the Durga Puja bonus and the operations were suspended amid the talks, they said. The management refused to give 20% bonus to the workers as being given by the other tea gardens, they added.