Adani Ports acquires 97% in Marine Infrastructure for Rs 19.50 billion

Also, GMR Infrastructure announced developing through its subsidiary a deep-draft, multi-cargo greenfield port near Kakinada

The relaxation in cabotage law last month could come to the rescue of the domestic port sector at a time when indigenous cargo growth has remained stagnant.
 
Adani Ports on Thursday acquired 97 per cent in Marine Infrastructure for Rs 19.50 billion, further strengthening its presence in the east coast.
 
Alongside, GMR Infrastructure announced developing through its subsidiary a deep-draft, multi-cargo greenfield port 30 km north of Kakinada city.
 
Once operational, this new port will have an initial capacity of 16 million tonnes. Also, the share of the Andhra Pradesh government under the bid is 2.7 per