Adani Ports Deepens Ties with the World’s Largest Shipping Line
Newzdaddy Business Updates
Strengthening Partnerships for Growth
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest transport utility, has forged its second strategic partnership with Terminal Investment Limited (TiL), the container terminal arm of the world’s largest shipping line, MSC (Mediterranean Shipping Company). This collaboration involves a 49% stake acquisition by TiL in Adani Ennore Container Terminal Pvt Ltd (AECTPL) for a substantial equity consideration.
Building on Past Success
This new joint venture follows a successful 2013 collaboration between APSEZ and TiL for Adani International Container Terminal Pvt Ltd (AICTPL), operating the CT3 Container Terminal at Mundra Port, India’s largest private commercial port.
Key Figures and Financials
Under the agreement, TiL’s subsidiary, Mundi Ltd, will acquire the 49% stake for Rs 247 crore, contributing to AECTPL’s total enterprise value of Rs 1,211 crore. After regulatory approvals, APSEZ will retain a 51% stake in AECTPL.
Terminal Overview and Growth Potential
Situated on India’s east coast, AECTPL boasts a quay length of 400 meters and an annual handling capacity of 0.8 million TEUs. With a concession period extending until 2044, the terminal’s capacity can be expanded to accommodate 1.4 million TEUs annually.
Statements from Key Figures
Karan Adani, CEO and Whole Time Director of APSEZ expressed confidence in the growing alliance, highlighting the strategic vision to replicate success and cater to the trade needs of the South Indian market. Ammar Kanaan, CEO of Terminal Investment Ltd, expressed satisfaction with the strengthened partnership, aiming to enhance TiL’s presence in one of the world’s fastest-growing economies.
Future Prospects and Vision
With this move, APSEZ envisions accelerating sectoral growth through transparent business practices. The company aims to position itself as the largest ports and logistics platform globally within the next decade, contributing to India’s benefit in the evolving global supply chain landscape.
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