INSUBCONTINENT EXCLUSIVE:
New Delhi: Adani Ports and Special Financial Zone (APSEZ) on Monday said it has actually gotten 25 percent stake of Vishwa Samudra Holdings
in Krishnapatnam Port for Rs 2,800 crore.This will result in APSEZ increasing its stake from 75 percent to 100 per cent in Krishnapatnam
Krishnapatnam Port, situated on the east coast of India in Nellore district of Andhra Pradesh, is an all-weather, deep water port has
multi-cargo facility with a current capacity of 64 million tonne per annum (MTPA)
APSEZ, the flagship transport arm of the diversified Adani Group, is revealing the acquisition of the residual 25 per cent stake in Adani
Krishnapatnam Port, (Krishnapatnam Port) for Rs 2,800 crore, the business stated in a statement.With a waterfront of 20 km and 6,800 acres
of land, Krishnapatnam Port has a master plan capacity of 300 MTPA and a 50-year concession, it said
Together with the 75 per cent ownership obtained in October 2020, the acquisition indicates an enterprise worth of Rs 13,675 crore
suggesting an EV/ FY21 EBITDA multiple of 10.3 x, the business said.The port is anticipated to have volumes of 38 MT, incomes of Rs 1,840
crore and EBITDA of Rs 1,325 crore in FY21, it said.Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, The
combination of our ownership in Krishnapatnam Port enhances APSEZ's stride towards 500 MMT by 2025 and accomplishing our wider technique
of cargo parity between west and east coasts of India
He said Krishnapatnam Port is on track to manage double the traffic by 2025 and will provide high growth through a multi-product and
freight improvement technique while improving return on capital employed
We are positive that we will be able to double throughput and triple EBITDA at Krishnapatnam Port by 2025
We are devoted to making Krishnapatnam Port the gateway port for South Andhra Pradesh and Karnataka
With its large commercial land backed with the port we will change Krishnapatnam into a manufacturing and industrial hub, Adani included
APSEZ is the biggest port designer and operator in India with 12 tactically situated ports and terminals-- Mundra, Dahej, Tuna and Hazira in
Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, Dighi in Maharashtra and Kattupalli and
Ennore in Chennai.These represent 24 per cent of the country's overall port capability, dealing with large amounts of cargo from both
coastal areas and the huge hinterland
The business is also developing a transhipment port at Vizhinjam, Kerala.
