Adani Ports Ink Indian Terminal Deal


Adani Ports and multinational conglomerate Larsen & Toubro (L&T) has said they have inked a deal to oversee operations at the Port of Kattupalli and Kattupalli Container Terminal in Tamil Nadu, according to Business Today.

The development comes amid reports that Adani group is likely to take over the operational and management control of L&T Kattupalli International Container Terminal near Chennai to strengthen its East Coast presence on the east coast.

Adani Ports and Special Economic Zone (APSEZ) said: “Adani Ports (Adani) has entered into a non-binding Memorandum of Understanding with L&T Shipbuilding (L&T) for evaluating the operations of the Port at Kattupalli, Tamil Nadu, with effect from October 2015 for one month.

“Adani shall be responsible for EBIDTA gains and losses arising from the port operation for this period.”

Chairman Gautam Adani said: “It is a strategic location being very close to international shipping route and has the potential to become the biggest trans-shipment hub in the region.”

Adani Ports was previously in talks to manage and operate the terminal, which cost a total of US$620 million to complete.

APSEZ is part of the Adani group, which is one of India's leading business houses with revenue of over $10 billion.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.