Dighi Port

DPL, the 12th port to join APSEZ's string of economic gateways across the eastern and western coast of India will establish the company's footprint in Maharashtra, the largest contributor to GDP

APSEZ plans to invest over Rs 10,000 crore to develop the port into a multi-cargo port and investing in the development of rail and road evacuation infrastructure

Adani Portsand Special Economic Zone (APSEZ) on Tuesday said it has completed the acquisition of Dighi Port for Rs 705 crore and would invest over Rs 10,000 crore in developing it as an alternate gateway to JNPT. JNPT is India's largest container port and is one of the 12 major ports in the country. APSEZ completed the acquisition of 100 per cent DPL for Rs 705 crore on February 15, 2021....DPL, the 12thport to join APSEZ's string of economic gateways across the eastern and western coast of India would establish the company's footprint in Maharashtra, the largest contributor to India's GDP, APSEZ said in a statement. This would enable APSEZ to service customers in Maharashtra whichincludes the highly industrial areas and development in the Mumbai and Pune regions, it said. APSEZ plans to invest over Rs 10,000 crore to develop the port into a multi-cargo port with world class infrastructure as well as investing in the development of rail & road evacuation infrastructure for ...

APSEZ to invest Rs 10,000 crore to develop facility into multi-cargo port

For Adani Ports, after a 27 per cent volume fall in the June quarter, they increased 6 per cent in July.

The National Company Law Appellate Tribunal (NCLAT) has upheld the Adani Group firm - Adani Ports & Special Economic Zone's take-over plan of the debt-ridden Dighi Port. A three-member NCLAT bench dismissed the plea filed by promoter Vishal Vijay Kalantri challenging the order passed by the Mumbai bench of National Company Law Tribunal (NCLT), which had approved the Rs 650-crore resolution plan by Adani Ports & Special Economic Zone (APSEZ) on March 5. The appellate tribunal rejected Kalantri's submissions contending that NCLT has failed to consider objections raised by it over the resolution plan submitted by APSEZ and rejected the settlement proposal submitted by his company Balaji Infra Projects Ltd (BIPL). "All objections raised qua the action of the 'Resolution Professional' during Corporate Insolvency Resolution Process (CIRP), approval of 'Resolution Plan' of 'APSEZ' by the Committee of Creditors and its subsequent approval by the Adjudicating Authority being unfounded .

The NCLAT said that the matter was already pending before the NCLT for passing the order

The NCLT has approved Rs 650-crore resolution plan submitted by Adani Ports & Special Economic Zone (APSEZ) for debt-ridden Dighi Port, located south of Mumbai. The resolution came with a huge 79.2 per cent haircut to the lenders, as they had made a claim of Rs 3,098 crore. The successful bid will give the Adanis access to Maharashtra, where it had no presence, even though the group straddles the entire coastline of the country with 11 operational ports and an under-construction transshipment terminal at Vizhinjam in southern Kerala. It can be noted that Dighi Port was the first port to go for a bankruptcy in April 2018. The 16-member committee of creditors (CoC) led by Bank of India, which collectively have 99.68 per cent voting shares, has approved APSEZ's revised offer of an upfront cash payout of Rs 650 crore, the National Company Law Tribunal (NCLT) said in an order dated March 5. Dighi Port, promoted by industrialist Vijay Kalantri owes Rs 3,098 crore to the lenders. He had

The appellate tribunal has directed to list the matter for next hearing on August 21

Overall, participation of PE firms in India's port sector has remained minimal

The port is being developed by Balaji Infra Projects, under a 50-year concession agreement from the state's maritime board

Debt-laden port could get into insolvency list, but promoters say talks are on with investors