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APSEZ enters into agreement for strategic acquisition of Kattupalli Port in Tamil Nadu

09 Nov 2015 Evaluate

Adani Ports and Special Economic Zone (APSEZ) through its subsidiary Adani Kattupalli Port (AKPPL), has entered into an in-principle agreement for strategic acquisition of the Kattupalli Port in Tamil Nadu from L&T Shipbuilding (LTSB), a subsidiary of Larsen & Toubro (L&T).

The above is subject to receiving the necessary approvals from the Government of Tamil Nadu and Central Government, and the port being demerged from LTSB. L&T currently operates both the port and shipyard under a single entity ‘L&T Ship Building’.

While awaiting the necessary approvals, APSEZ through its subsidiary AKPPL has entered into an arrangement to take over the operations of the Port.



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