Adani Ports and SEZ completes acquisition of Krishnapatnam Port Co for Rs 12,000 crore
The company acquired controlling stake of 75 per cent in India's second largest private sector port and said the acquisition will accelerate handling of 500 million tonnes (MT) throughput by 2025.
PDS rice from Andhra Pradesh worth crores exported to Africa, Malaysia
The police busted one such gang recently. Investigators first detected...
No ammonium nitrate in custody of Customs in Vizag: Official
In the light of the explosion of the chemical in Beirut and the resultant fatali...
CCI approves acquisition of Krishnapatnam Port Co by Adani Ports and Special Economic Zone
Fair trade regulator CCI on Wednesday said it has given its nod to acquisition of Krishnapatnam Port Company Ltd by Adani Ports and Special Economic Zone Ltd.
Adani Ports advances 2% as company mulls $1 billion in overseas bond sale
The bond sale, which is expected in July itself, would have a 30-year maturity, ET reported. This would be the first long-term issuance by an Indian company since the lockdown began.
COVID-19 has deal-making plunging 31% to $18.7 bn in Q1: Report
Despite the fall, India saw 87 deals in Q1, securing 15.4 per cent market share in the APAC region, almost on par with 2019 levels, according to the data collated by Mergermarket. While the domestic deal market saw an 11.1 per cent growth, outbound deals grew by around USD 500 million.
Swiss firm plans steel plant in Kadapa district
This would be the second steel plant that has been proposed in Kadapa district in the Rayalaseema region of the state. As the Centre allegedly did not come forward to set up the steel plant in Kadapa as per the AP Reorganisation Act, 2014, the state government decided to establish one on its own and the Chief Minister laid the foundation stone for it on December 23 last.
KPCL deal will not impact Adani Ports' ratings: Agencies
Last Friday, APSEZ announced an acquisition of 75 per cent interest in Krishnapatnam Port Company.
APSEZ has sufficient financial headroom to absorb proposed buyout in Krishnapatnam Port: S&P
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
Adani Ports to acquire 75% stake in Krishnapatnam Port Company
The Gautam Adani-led company will buy a 75% stake in KPCL at an enterprise value of Rs 13,572 crore after prolonged talks to obtain the all-weather port in Andhra Pradesh. The all-cash deal will be funded through internal accruals and existing cash balance, the company said in a release.
NGC Energy, Petredec to set up Rs 400-crore LPG terminal
NGC Energy India, a joint venture between Oman-based National Gas Company and Singapore-headquartered Petredec, will jointly set up a liquified petroleum gas import and storage terminal at Krishnapatnam Port. National Gas Company signed a definitive agreement to transfer 40 per cent of its shares to Petredec in September this year.
Adani group in talks with Krishnapatnam Port to acquire majority stake
The all-weather port with 365 days of operations is located at Krishnapatnam in Nellore District of Andhra Pradesh, north of Chennai.
Krishnapatnam Port to pump Rs 500 cr for liquid cargo terminal
"We will invest Rs 500 crore over the next 12-18 months for creating a liquid cargo terminal and also expand container capacity," its chief executive Anil Yendluri told PTI over the weekend.
Krishnapatnam Port to better infrastructure to meet increase in traffic
The port has set up a dedicated coastal cargo berth to handle growing traffic and reducing time loss in a bid to emerge as a coastal cargo hub on India’s east coast.
Krishnapatnam Port's cargo handling up 25% in FY18
The port has planned a total investment of USD 3 billion of which USD 1.23 billion (Rs 8,000 crore) has already been invested for development till date with second phase of expansion underway.