Adani Port: Adani Group buys another port, acquires Karaikal Port for Rs 1485 crore

Adani Group Acquired Karaikal Port: Adani Group has named another port. Adani Port and Special Economic Zone Limited (APSEZ) announced that Karaikal Port Private Limited has been acquired after getting the approval of the National Law Tribunal (NCLT). The company said that the deal has been completed. 

Prior to the acquisition of Karaikal Port, Adani Port and Special Economic Zone Limited were considered as part of the Corporate Insolvency Resolution Process of KPPL. Karaikal Port is a large-sized all-weather, deep-water port located in Puducherry, India. It has five functional berths, three railway sidings, 600 hectares of land and a cargo handling capacity of 21.5 million metric tonnes. 

What information did the company give 

In a statement issued by Adani Port, it has been said that the deal for the acquisition of Karaikal Port has been done for Rs 1,485 crore. According to the statement, the port is close to the containerized cargo based industrial hubs of Tamil Nadu and the upcoming 9 MMTPA CPCL refinery. 

Adani Group has 14 ports 

Let us tell you that the union territory is located in Karaikal district of Puducherry and it was established in 2009 and it is located about 300 km south of Chennai, which is a major port. Whereas Adani Group is the largest private and logistics company in the country. 

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