Adani Negotiating USD 2.1 Billion Gangavaram Port Buy

Adani Ports & Special Economic Zone (APSEZ), India’s largest port developer and part of the Adani Group, has reportedly entered into exclusive talks to buy the country’s deepest port – Gangavaram Port – for USD 2.1 billion, according to local media.

Adani initially planned to finance the deal through a USD 2.5 billion bond issuance, which is now on hold due to the financial crisis in Greece. Adani has now turned to banks to secure funding for the acquisition.

The 21-meter-deep Gangavaram Port was inaugurated in 2009, and is operated by DVS Raju Group, which holds a 58% stake in the port.

A global private equity firm Warburg Pincus has a 31% share, and the government of Andhra Pradesh holds about 11% of the port’s shares. The DVS Rajou Group-led consortium was awarded a 30-year concession to construct and operate the port in August 2003.

The Gangavaram port handled 20.74 million tonnes of cargo in FY 2014.

World Maritime News Staff

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >