Adani Ports & Special Economic Zone (APSEZ) is looking at ports in Karaikal, Kattupalli and Gangavaram with the intention of acquiring one of them as the firm aims to expand its presence in the port business.
Country's largest port developer and part of billionaire Gautam Adani-led Adani Group, is in talks with the promoters of Gangavaram port in Andhra Pradesh as well as Karaikal & Larsen & Toubro's Kattupalli ports in Tamil Nadu, a person in know of the developments said.
"APSEZ is interested in Karaikal port as it has an SEZ area and the company has an expertise in developing such port-led SEZs. Also for Kattupalli and Gangavaram, the firm has initiated talks with the promoters. But discussions are at an initial stage," he added.
The talks with promoters of Gangavaram port has not started on a very positive note, the person said.
Karaikal Port Pvt Ltd (KPPL) is a subsidiary of MARG, an infrastructure and real estate developer. Karaikal will have a total of 9 berths capable of handling 47 MMTPA by 2018. The port is envisioned to be developed in 3 phases with the final phase getting operational in 2017.
Kattupalli International Container Terminal is operated by L&T Shipbuilding Ltd, a joint venture of L&T and Tamil Nadu Industrial Development Corporation Ltd (TIDCO).
L&T Shipbuilding Ltd is the developer of an integrated shipyard-cum-port with an initial annual capacity of 1.2 million TEUs at Kattupalli.
Gangavaram Port, operated by DVS Raju-led consortium, is an all weather, multipurpose port with water depth up to 21 meters, making it capable of handling fully laden Super Cape size vessels of up to 200,000 DWT.
DVS Raju and his family owns 58.11 per cent stake in the Gangavaram port followed by private equity investor Warburg Pincus at 31.5 per cent and Government of Andhra Pradesh 10.39 per cent.
