Adani acquires Dhamra Port for Rs. 5,500 crore.

Adani Ports & Special Economic Zone (APSEZ), part of Adani Group said recently it had acquired Dhamra Port Company for Rs. 5,500 crore.

Dhamra Port is a 50:50 joint venture between Tata Steel and L&T Infrastructure Development Projects. It is a major and newly developed port in Odisha's Bhadrak district, about seven km from the old port of the same name. The agreement to develop the port was signed in April 1998.

Adani stated it had put through a definitive agreement with both these companies to acquire 100 per cent stake. It would be one of the biggest port sector deals in recent years and give APSEZ access to the east coast.


'The acquisition gives us an opportunity to replicate the development and phenomenal growth of Mundra port on the eastern coast and, thereby, continue to execute on our pan-India strategy,' said Gautam Adani, chairman of Adani Group.

BS