Adani Ports receives LoA from Ennore for container terminal project: Report

20 Feb 2014 Evaluate

Adani Ports and Special Economic Zone (APSEZ), India’s largest private port developer has reportedly received Letter of Award (LoA) from Ennore Port for Rs 1,270 crore container terminal project. The LoA was issued on February 14, 2014. The next step is finalizing various parameters, including the formation of a special purpose vehicle and financial closure of the project.

Earlier, the company has emerged as the highest bidder to build a container terminal at the Ennore Port. The company offered highest revenue for the proposed Rs 1,270 crore project, compared to DP World which was the runner.

Adani Ports and Special Economic Zone is the country's largest private multi-port operator and part of the Adani Group, a global integrated infrastructure player. The company has reported 14.83% rise in its net profit at Rs 477.05 crore for third quarter ended December 31, 2013 as compared to Rs 415.43 crore for the same quarter in the previous year.

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