Adani Ports acquires Karaikal Port for �1,485 crore
01 Apr 2023
2 Min Read
CW Team
Karaikal Port, which Adani Ports recently acquired, is an all-weather deep-water port in Puducherry with five operational berths.
Adani Ports and Special Economic Zone (APSEZ) announced that it had completed the acquisition of Karaikal Port (KPPL) with the approval of the National Company Law Tribunal (NCLT).
APSEZ had previously been declared a successful resolution applicant under KPPL's Corporate Insolvency Resolution Process (CIRP). Karaikal Port is an all-weather deep-water port in Puducherry with five operational berths, three railway sidings, total land area of over 600 hectares and a built-in cargo handling capacity of 21.5 MMT.
"Acquisition consideration of 1,485 crores implies an EV/EBITDA multiple of 8x on FY23 estimated numbers," said APSEZ in a statement.
The port, according to the statement, is close to the containerized cargo-originating industrial centres of Tamil Nadu, as well as the upcoming 9 MMTPA CPCL refinery.
"With the acquisition of Karaikal port, APSEZ now operates 14 ports in India," said APSEZ CEO and full-time director Karan Adani. APSEZ will invest an additional 850 crores in infrastructure upgrades over time to reduce logistics costs for customers.
"We plan to double the port's capacity in the next five years and add a container terminal to make it a multipurpose port," he added.
The Karaikal Port was built in the Karaikal District of the Union Territory of Puducherry, about 300 kilometres south of Chennai. It is the only major port between Chennai and Tuticorin, and its strategic location gives the port easy access to Central Tamil Nadu's industrially rich hinterland. The port has a water draught of 14 metres and a land area of over 600 acres.
Adani Ports and Special Economic Zones, India's largest private port and logistics company, is the flagship transportation arm of the diversified Adani group.
Also Read
Fourth Arm of Raidurg Metro Station to be opened today
Escape by Creatomy Introduces exciting console tables
Karaikal Port, which Adani Ports recently acquired, is an all-weather deep-water port in Puducherry with five operational berths.
Adani Ports and Special Economic Zone (APSEZ) announced that it had completed the acquisition of Karaikal Port (KPPL) with the approval of the National Company Law Tribunal (NCLT).
APSEZ had previously been declared a successful resolution applicant under KPPL's Corporate Insolvency Resolution Process (CIRP). Karaikal Port is an all-weather deep-water port in Puducherry with five operational berths, three railway sidings, total land area of over 600 hectares and a built-in cargo handling capacity of 21.5 MMT.
Acquisition consideration of 1,485 crores implies an EV/EBITDA multiple of 8x on FY23 estimated numbers, said APSEZ in a statement.
The port, according to the statement, is close to the containerized cargo-originating industrial centres of Tamil Nadu, as well as the upcoming 9 MMTPA CPCL refinery.
With the acquisition of Karaikal port, APSEZ now operates 14 ports in India, said APSEZ CEO and full-time director Karan Adani. APSEZ will invest an additional 850 crores in infrastructure upgrades over time to reduce logistics costs for customers.
We plan to double the port's capacity in the next five years and add a container terminal to make it a multipurpose port, he added.
The Karaikal Port was built in the Karaikal District of the Union Territory of Puducherry, about 300 kilometres south of Chennai. It is the only major port between Chennai and Tuticorin, and its strategic location gives the port easy access to Central Tamil Nadu's industrially rich hinterland. The port has a water draught of 14 metres and a land area of over 600 acres.
Adani Ports and Special Economic Zones, India's largest private port and logistics company, is the flagship transportation arm of the diversified Adani group.
Also Read
Fourth Arm of Raidurg Metro Station to be opened today
Escape by Creatomy Introduces exciting console tables
Next Story
New Expressway to Cut Pune-Bengaluru Travel Time by Half
The upcoming Pune-Bengaluru Expressway is expected to significantly improve connectivity and economic opportunities across Maharashtra and Karnataka. This 700-kilometre greenfield, access-controlled highway will cut the travel time between Pune and Bengaluru from 15 hours to just 7 hours, facilitating easier movement for both commuters and businesses. Starting from Bommanal in Karnataka’s Athani Taluk, the expressway will traverse important districts such as Belagavi, Bagalkot, and Jamakhandi. It will then enter Maharashtra at Kanjle, connect with the proposed Pune Ring Road, and pass throug..
Next Story
Nagpur’s Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic
To alleviate traffic congestion and enhance safety at Koradi Naka in Nagpur, a Y-shaped flyover is currently being constructed on National Highway 47. Demolition work has already commenced, with the main construction scheduled to start on June 20, 2025.The project, costing Rs 430.37 billion, involves building a 1,090-meter-long flyover that will connect Farsa, the Mahadula Railway Overbridge (ROB), and Bokhara Road, and will also feature an underpass. The existing structure will be repurposed into a service road to facilitate local traffic.Koradi Naka has been identified as a significant "blac..
Next Story
Avinashi Flyover: Huge Iron Span to be Placed Over Railway Overbridge
A senior official from the Special Project Wing explained that a concrete deck of such length was not practical across active railway lines. Therefore, the department had decided to opt for a specially fabricated iron span.With the span now ready, its installation is awaiting railway clearance. The Salem Division of Southern Railway has already given its approval, while the final clearance is still pending from the Southern Railway headquarters in Chennai. For the installation process, railway operations under the ROB will need to be suspended for at least five days.The official also mentioned..
