Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and part of the Adani Group, has made an agreement to acquire 97% of the shares belonging to Marine Infrastructure Developer Private Limited (MIDPL), the developer and operator of Kattupalli Port.
Kattupalli Port, located 30 kilometres towards the north of Chennai, is one of the most modern ports in India and is emerging as Chennai’s New Gateway for export and import trade.
Amongst the many advantages of Kattupalli port is its connectivity with highly industrialized hinterlands of North Tamilnadu, Chennai, Bangalore region and South Andhra Pradesh.
APSEZ made its share purchase agreement for MIDPL with Larsen and Toubro Limited, Marine Infrastructure Developer Private Limited, L&T Shipbuilding Limited and Adani Kattupalli Port Private.
With a backup area of 322 acres, Kattupalli port provides ample space for future expansion of port to facilitate trade requirements.
APSEZ plans to transform Kattupalli into a multi-commodity port to handle cargoes like containers, automobiles, break bulk, general cargo, liquid cargo and project cargo.
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Presently the port has two berths with quay length of 710 meters, six quay cranes, 15 RTG cranes, 5120 ground slots with the capacity to handle 1.2 Million TEUs per annum.
Speaking on the development, Karan Adani, CEO, Adani Ports and Special Economic Zone, said: “We are thankful to the Tamil Nadu government and Ministry of Commerce for giving approvals in record time.
“Adani Ports is committed to make Katupalli port one of the largest ports in southern India.
“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.”