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APSEZ & TERMINAL INVESTMENT LTD EXPAND PARTNERSHIP WITH RS 1 LAKH CR DEAL
The Business Guardian
|December 16, 2023
Adani Ports and SEZ and Mediterranean Shipping Company MSC) have extended their strategic alliance, through which Terminal Investment Ltd
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Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest transport utility, has forged a second strategic alliance with Terminal Investment Limited (TiL), the container terminal operating and investing arm of the world’s largest container shipping line, Mediterranean Shipping Company (MSC).
According to a press release, this partnership involves a significant development - the acquisition of a 49 percent stake in Adani Ennore Container Terminal Pvt Ltd (AECTPL) by TiL, marking a crucial milestone in the companies’ growing collaboration.
AECTPL, situated on India’s east coast, boasts a quay length of 400 meters and an annual handling capacity of 0.8 million TEUs, with the potential for expansion to 1.4 million TEUs. The strategic investment by TiL is valued at Rs 247 crore, contributing to the total enterprise value of AECTPL, which stands at Rs 1,211 crore. Upon completion of the transaction, APSEZ will retain a 51 percent stake in AECTPL.
This story is from the December 16, 2023 edition of The Business Guardian.
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