| Adani Ports and Special Economic Zone has entered into a second strategic partnership with Terminal Investment (TiL), the container terminal operating and investing arm of MSC, the largest container shipping line in the world, for the operation of Adani Ennore Container Terminal (AECTPL). This second joint venture builds on the
success of the 2013 joint venture with TiL for Adani International Container Terminal (AICTPL), which operates CT3 Container Terminal at Mundra Port, the largest private commercial port in India.
Terminal Investment, through its fully owned subsidiary Mundi, will acquire a 49% shareholding of AECTPL from APSEZ for a consideration of Rs 247 crore. The total enterprise value of AECTPL is Rs 1,211 crore. The transaction is subject to regulatory approvals. After the completion of the transaction, APSEZ would hold 51% stake in AECTPL.
Located on India's east coast, AECTPL has a quay length of 400 meters and an annual handling capacity of 0.8 Mn TEUs. The terminal handled 0.55 Mn TEUs in FY23 and 0.45 Mn TEUs in the initial eight months of the current fiscal year. The concession period of the terminal is until 2044, and its annual capacity can be extended to 1.4 Mn TEUs. |