CimbriaPort of South LouisianaVan AalstTOC AmericasViganSailors Society
  • Van Aalst
  • Bühler GmbH
  • Cimbria
  • TOC Americas
  • TBA Group
  • Geneva Dry

Adani increases Krishnapatnam Port ownership

Adani increases Krishnapatnam Port ownership

(Posted on 06/04/21)

Adani Ports and Special Economic Zone  Ltd. (APSEZ), India’s largest private Ports & Logistics company and the flagship transportation arm of the diversified Adani Group, has announced the acquisition of the residual 25% stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs. 2,800 cr. This will result in APSEZ increasing its stake from 75% to 100% in Krishnapatnam Port.

Together with the 75% ownership acquired in October 2020, the acquisition implies an enterprise value of Rs. 13,675 cr implying an EV/ FY21 EBITDA multiple of 10.3x.

Krishnapatnam Port is located on the east coast of India in Nellore district of Andhra Pradesh (~180 km from Chennai Ports) close to the border between Andhra Pradesh and Tamil Nadu. Krishnapatnam Port is an all-weather, deep water port has multi-cargo facility with a current capacity of 64 MMTPA. With a waterfront of 20 km and 6,800 acres of land, Krishnapatnam Port has a master plan capacity of 300 MMTPA and a 50-year concession.

The port is expected to have volumes of 38 MMT, revenues of Rs. 1,840 cr and EBITDA of Rs. 1,325 Cr in FY21. Since the acquisition, Krishnapatnam Port has focused on business process re-engineering which has resulted in EBITDA margins improving from 57% in FY20 to 72% in FY21.Mr. Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said, “The consolidation of our ownership in Krishnapatnam Port reinforces APSEZ’s stride towards 500 MMT by 2025 and achieving our broader strategy of cargo parity between west and east coasts of India. Krishnapatnam Port is on track to handle double the traffic by 2025 and will deliver high growth through a multi-product and cargo enhancement strategy while enhancing return on capital employed. We are confident that we will be able to double throughput and triple EBITDA at Krishnapatnam Port by 2025. We are committed to making Krishnapatnam Port the gateway port for South Andhra Pradesh and Karnataka. With its large industrial land backed with the port we will transform Krishnapatnam into a manufacturing and industrial hub.”

Latest News

Ghent boosts bulk handling with a Gen 6 Konecranes Gottwald MHC

(Posted on 29/11/24)

Euroports Group is set to strengthen its bulk handling capacity at North Sea Port (Ghent) with the addition... Read more


Europe’s first fully electric tug delivered to Antwerp-Bruges

(Posted on 29/11/24)

Damen Shipyards Group has delivered six RSD Tugs 2513 to the Port of Antwerp-Bruges in Belgium. The... Read more


Hamburg bulks show mixed trends

(Posted on 20/11/24)

Throughput of bulk cargo at the Port of Hamburg has experienced a slight recovery over the course of... Read more


LAR in Angola reinforces transport capacity with new wagons

(Posted on 20/11/24)

The Lobito Atlantic Railway (LAR) has taken an important step this week towards strengthening its transport... Read more


ABP’s Port of Hull welcomes two new build Eco Traders

(Posted on 13/11/24)

The Port of Hull recently welcomed two new eco-friendly vessels built for charterer Ahlmark Lines AB... Read more


Port of Detroit awarded $24m by EPA for climate-friendly upgrades

(Posted on 12/11/24)

The U.S. Environmental Protection Agency (EPA), in a historic move toward green infrastructure, has... Read more


Viterra signs deal with ABP in the Humber

(Posted on 12/11/24)

Associated British Ports (ABP) and Viterra, one of the world leading grain marketers, have announce... Read more


New Managing Director at TBA Doncaster

(Posted on 04/11/24)

From 1st November, TBA’s Doncaster division has a change of leadership.Responsible for the bulk... Read more


Port of Vancouver USA grant to deploy and expand clean energy infrastructure

(Posted on 31/10/24)

The Port of Vancouver USA has announced it has been awarded a $22.5 million grant by the U.S. Environmental... Read more


ABP acquires land to fuel future growth

(Posted on 31/10/24)

Associated British Ports (ABP) has acquired 21 acres of land on the western side of the Port of Immingham... Read more


Geneva DryTMS Awards 2023Port of StocktonTelestackBühler GmbHTBA Group
  • Telestack
  • Port of South Louisiana

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping