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May 4, 2020

Adani Ports calls off deal to construct Bhavanapadu Port

Adani Ports and Special Economic Zone (APSEZ) has announced that it has called off its deal to construct the Bhavanapadu Port in Andhra Pradesh, India.

Adani Ports and Special Economic Zone (APSEZ) has announced that it has called off its deal to construct the Bhavanapadu Port in Andhra Pradesh, India.

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In January 2018, the Government of Andhra Pradesh granted a Letter of Intent to Award (LOA) to APSEZ for the Bhavanapadu Port.

Adani Ports said that it fulfilled all requirements for documents of the LOA. However, the Government of Andhra Pradesh asked for some changes to be made to the Draft Concession Agreement.

The company said that it could not agree to the changes to the agreement in August 2018 and June 2019, saying that the changes were hindering the project viability.

In February, Adani Ports asked the Andhra Pradesh Maritime Board to confirm the Concession Agreement without making any changes and said that the project could be closed if the government did not comply.

Adani Ports said: “There is no material impact of this article on the company as the company had received only LOA and no further action was taken with respect to the project.

“Also, we would like to reiterate that, as done in the past, in the event there is any development, which requires disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we will make the same in accordance with regulatory requirements.”

In October last year, APSEZ announced it will invest Rs489.33bn ($6.89bn) to increase the cargo handling capacity of Dhamra port in the Indian state of Odisha.

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img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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