Deal Gives Adani Ports Int'l Push

Making waves

- Ashish Agrawal

Adani Ports and Special Economic Zone Ltd is in better shape now than over a decade ago, when it acquired the Abbot Point Port terminal on a 99-year lease from the Queensland government in FY12. But Adani sold it in 2013 to the promoter group to improve its net debt-to-equity ratio that was a high 3.41x at end-FY12.

Last week, Adani Ports announced the acquisition of Abbot Point Port Holdings Pte Ltd from the promoter group in a related-party transaction, aligning with its target of achieving cargo handling capacity of 1,000 mtpa (million tonnes per annum), including 150 mtpa of international capacity by 2030.