Adani Ports and Special Economic Zone Ltd.

Adani Ports and SEZ is reportedly close to acquiring Dhamra Port, 50:50 joint venture between Tatas and L&T, in a deal reported to be worth about Rs 5,000 crore. However, the final deal may be signed in couple of months from now. This deal will help Adani to expand its presence on the east coast.

Dhamra Port Company, which operates the port, has been awarded a concession by Odisha government to build and operate a port on Dhamra river in Bhadrak district on BOOST (Build, Own, Operate, Share and Transfer) basis for a total period of 34 years, including a period of 4 years for construction. The Port also has the deepest draft which is suitable for large vessels making it the most cost-effective port on the eastern coast.

Larsen & Toubro (L&T) was the first, among the two promoters, to exit from the port as it is 'a non-core asset'. Tata Steel, however, earlier had ruled out any immediate exit.