Adani Ports and Special Economic Zone (APSEZ) has executed a share purchase agreement with Larsen and Toubro to purchase a 97% share in Marine Infrastructure Developer (MIDPL), which operates Kattupalli Port in Chennai, India.

MIDPL, L&T Shipbuilding and Adani Kattupalli Port are also signatories of the Rs19.5bn ($282.7m) deal.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Kattupalli Port is situated 30km north of Chennai and is connected with its neighbouring industrialised regions of North Tamilnadu, Bangalore and South Andhra Pradesh, among others.

Considered as Chennai’s New Gateway for export-import (EXIM) trade in Chennai/Bangalore region, the port has a backup area of 322 acres for future expansion.

“We will be able to reduce logistics cost of industries in the region and be one of the engines of growth.”

The port is equipped with two berths with a quay length of 710m.

It also features six quay cranes, 15 rubber-tyred gantry (RTG) cranes, 5,120 ground slots with the capacity to handle 1.2 million twenty-foot equivalent units (TEUs) of cargo annually.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

APSEZ CEO Karan Adani said: “We are going to start our construction to diversify the cargo of the port and will be adding 40 million metric tonnes of new capacity in next three 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.”

The acquiring company said it intends to transform Kattupalli into a multi-commodity port, which will enable it to handle various cargoes such as containers, automobiles and project cargo.