India’s port developer Adani Ports and Special Economic Zone Ltd (APSEZ) has finalized the purchase of Marine Infrastructure Developer Private Limited (MIDPL), the developer and operator of Kattupalli Port.
The company bought 97 pct shares of MIDPL from Larsen and Toubro Limited, Marine Infrastructure Developer Private Limited, L&T Shipbuilding Limited and Adani Kattupalli Port Private Limited.
“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,” Karan Adani, CEO of APSEZ said.
Kattupalli Port is emerging as Chennai’s New Gateway for EXIM trade in Chennai/Bangalore region.
It is located 30 kilometers towards north of Chennai and has connectivity with hinterland of North Tamilnadu, Chennai, Bangalore region and South Andhra Pradesh – locations which are highly industrialized.
APSEZ said that it plans to transform Kattupalli into a multi commodity port to handle cargoes like containers, automobiles, break bulk, general cargo, liquid cargo and project cargo.
Presently the port has two berths with quay length of 710 meters, 6 Quay cranes, 15 RTG cranes, 5120 ground slots with the capacity to handle 1.2 million TEUs per annum.