Adani Ports acquires multimillion Port PPP project in India for USD371 million
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, is announcing the acquisition of the residual 25% stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs. 2,800 crores (USD 371.67 million). 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 crores (USD1.81 billion) 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 a 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 crores (USD244.24 million).
Country news
-
-
January 21, 2021
Adani Enterprises wins USD251 million highway PPP project in India
National Highways Authority of India (NHAI) has successfully awarded Indian multinational Adani Enterprises a multimillion highway PPP project in the state of Kerala.
Read more -
October 23, 2020
Cube Highways acquires TOT Bundle 3 Project in India
The NHAI has awarded TOT 3 bundle (566 Km in length) consisting of 9 toll plazas in the state of UP, Jharkhand, Bihar and Tamil Nadu under its ambitious Toll-Operate-Transfer (ToT) model to Cube Mobility Investment Pte. Ltd. (Cube Highways) and has received upfront consideration of Rs. 5,011 crore (USD 681.85 million).
Read more -
March 24, 2020
Indian railways to privatize passenger train services
Indian Railways has announced an indicative list of over 100 origin-destination pairs for the operation of passenger train services by the private entities, under the Public-Private Partnership (PPP) model. Indian Railways has also launched draft Request for Qualification and draft Concession Agreement, for seeking comments from stakeholders.
Read more -
December 04, 2019
Winner selected for the largest airport in India
Flughafen Zürich AG was chosen as Selected Bidder for the concession to design, develop and operate the new Noida International Airport at Jewar in India.
Read more -
November 14, 2019
Four shortlisted in largest airport tender in India
The Yamuna Expressway Industrial Development Authority (YEIDA) on behalf of the Uttar Pradesh State Government in India has shortlisted four companies based on technical and financial criteria to participate in bids for Jewar International Airport project.
Read more
