Ways2Capital Reviews : APSEZ Completes The Acquisition Of Kattupalli Port

Adani Ports and Special Economic Zone Ltd, (APSEZ) has said that it has completed the acquisition of 97% stake in Kattupalli port from L&T, Marine Infrastructure Developer Private Limited, L&T Shipbuilding Limited and Adani Kattupalli Port Private Limited. Kattupalli port is its uniquely located, 30km towards north of Chennai and has connectivity with industrialized locations of North Tamilnadu, Chennai, Bangalore and South Andhra Pradesh.

Kattupalli Port is a modern ports emerging near Chennai. Company has said that it will be adding 40 MMT of new capacity in next 3 years to diversify the cargo of the port. Kattupalli port has backup area of 322 acres, which company believes will provide space for future expansion of port to facilitate trade requirements.

APSEZ also plans to transform Kattupalli into a multi commodity port to handle cargoes like containers, automobiles, break bulk, general cargo, liquid cargo and project cargo. Presently, the port has two berths with quay length of 710 meters, 6 Quay cranes, 15 RTG cranes, 5120 ground slots with the capacity to handle 1.2 Million TEUs per annum. According to the company this port provides a new dimension of services with speed and sophistication.
 
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