Larsen & Toubro Ltd.

Larsen & Toubro (L&T) has entered into an in-principle agreement with Adani Kattupalli Ports (AKPPL), a subsidiary of Adani Ports and Special Economic Zone (APSEZ), for strategic sale of Kattupalli Port in Tamil Nadu. The company presently operates both the port and shipyard through its subsidiary, L&T Shipbuilding (LTSB).

The strategic sale is subject to receiving the necessary approvals from the Government of Tamil Nadu and Central Government, and the port being demerged from LTSB. While awaiting the necessary approvals, the company has entered into an arrangement with AKPPL to handover the operations of the port.

Larsen & Toubro is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.