Krishnapatnam Port

The notification to allow continued petroleum imports at Krishnapatnam Port had a positive impact on the shares of Adani Ports, which gained over 1 per cent intraday on the Bombay Stock Exchange

The Competition Commission of India (CCI) on Tuesday gave nod to proposed acquisition of additional 25 per cent stake of Adani Krishnapatnam Port Ltd by Adani Ports and Special Economic Zone Ltd.

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

Adani Ports and Special Economic Zone (APSEZ) has sufficient financial headroom to absorb its proposed acquisition in Krishnapatnam Port Company (KPCL), S&P Global Ratings has said. "APSEZ's strong financial performance and flexibility in adjusting capital expenditure (capex) and dividends, and earnings contribution from Krishnapatnam will allow it to maintain its leverage within our rating threshold," the ratings agency said in a statement. Adani Group's port developing arm had last week said that it will acquire 75 per cent stake in KPCL in a cash deal that values the port at Rs 13,500 crore. S&P Global Ratings said that it expects APSEZ to maintain its ratio of funds from operations to debt at more than 15 per cent following the acquisition. "APSEZ's leverage is likely to be about 15 per cent in fiscal 2021 (year ending March 2021) as a result of the acquisition, compared with our previous estimate of about 18 per cent. "Leverage will then revert to 15-17 per cent in fiscal

Expert committee recommends vesting legislative, executive and judicial functions with Amaravati, Vizag and Kurnool, representing three broad regions for fair and equitable development of the state

Unconfirmed reports put the proposed deal value at over Rs 5,500 crore

Krishnapatnam currently handles 500,000 TEUs a year

The project would comprise Liquefied Natural Gas (LNG) floating storage, onshore buffer storage tank, re-gasification

As part of its expansion plans, the privately run Krishnapatnam Port is looking at building a liquid bulk cargo terminal of one million tonne capacity along with a RO-RO facility that would cater to the demand from the oil and power sectors.According to Anil Yendluri, CEO & Director of Krishnapatnam Port, the liquid bulk cargo facility would be built in collaboration with LNG Bharat Group with an initial capacity of one million tonne.The overall project comprises an LNG floating storage, onshore buffer storage tank, re-gasification etc. This is expected to make available natural gas to the industrial regions spread over Rayalaseema and southern districts of Andhra Pradesh and Telangana and also innorthern areas of Tamil Nadu. It is likely to be the first LNG import terminal with its own natural gas pipeline to be commissioned on the east coast.At present, the Krishnapatnam Port caters to traffic from all commodities accept Petroleum, Oil and Lubricants (POL) Products. It caters to

Aggressive marketing is helping the container terminal at the privately built port of Krishnapatnam in Andhra's Nellore district to become a bright spot on the east coast. Amid the region's low capacity utilisation, the Navayuga Engineering-operated terminal raised its market share to seven per cent in FY17 from four per cent in FY16."Cargo in Andhra-Telangana and north and east Karnataka which is currently going to other ports (like Chennai) have an instant cost advantange on distance if they switch to Krishnapatnam. So, the first leg of our marketing strategy is to bring this to the notice of cargo owners of this region," Vinita Venkatesh, director at the port's container terminal, told Business Standard.Chennai is among the largest and busiest ports on the east coast for container cargo. During FY15-17, the throughput of container ports on the east coast has moved in a narrow range of 3.1-3.9 million TEU, with utilisation at 42-48 per cent. Krishnapatnam saw port utilisation of 21 .