Navayuga to Acquire Aurobindo Realty's Stake in EPC JV for Ramayapatnam Port.

Navayuga Engineering Co Ltd, based in Hyderabad, is set to acquire the 49 percent stake held by Aurobindo Realty and Infrastructure Pvt Ltd in the joint venture for the Ramayapatnam port project in Andhra Pradesh. The deal will make Navayuga the sole owner of the project, sources confirmed.

The port’s engineering, procurement, and construction (EPC) contract, worth ₹2,634.65 crore, was awarded to a consortium led by Navayuga, which is recognized for its expertise in port construction, notably at Krishnapatnam port. Aurobindo Realty had originally partnered with Navayuga, given its lack of technical experience in port construction.

The move comes shortly after the political shift in Andhra Pradesh, with N. Chandrababu Naidu returning to power, replacing the previous leadership of Y. S. Jagan Mohan Reddy. Sources suggest that this change in political dynamics has influenced the decision, as Navayuga seeks to strengthen its position in port infrastructure development, a sector where it has significant experience.

The Ramayapatnam port, located in the Prakasam district, is being developed under the Andhra Pradesh Maritime Board in two phases, with a total investment of ₹10,640 crore. The first phase will handle 24.91 million tonnes of cargo annually, while the second phase aims to expand capacity to 138.54 million tonnes. The port is part of a broader effort by the Andhra Pradesh government to increase the state's port capacity from 110 million tonnes to 400 million tonnes annually.

Navayuga’s decision to buy out Aurobindo’s stake is seen as a strategic move to further its involvement in port development and operations. The company, which previously sold its stake in Krishnapatnam Port to Adani Ports, is now looking to re-enter the business, especially with the political situation now favorable.

ET