Adani Ports and Special Economic Zone (APSEZ), a part of Adani Group, has secured approvals from NCLT Ahmedabad and NCLT Hyderabad to purchase the remaining interest in Gangavaram Port Limited (GPL), India, for $751m (Rs62bn).

The approvals will enable APSEZ to acquire the remaining 58.1% interest in GPL from DVS Raju and family through the composite scheme of arrangement.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

APSEZ previously bought a 31.5% interest in GPL from Warburg Pincus, as well as another 10.4% from the Government of Andhra Pradesh, during the financial year 2021-22.

With the purchase of this interest, GPL will now be a 100% subsidiary of APSEZ.

Situated in the northern part of the Indian state of Andhra Pradesh, next to Vizag Port, Gangavaram Port is claimed to be the third largest non-major port in the state. It has a 64MMt capacity.

The port was formed under a concession from the Government of Andhra Pradesh (GoAP) that extends until 2059.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The all-weather, deep water port has the capability to handle completely laden super cape-size vessels of up to 200,000DWT.

With freehold land of 1,800 acres, the port currently has nine berths. It also has enough headroom to support future growth, with a master plan capacity of 250MMt a year.

Serving as the gateway port for a hinterland spread across more than eight states in India, Gangavaram Port handles a range of dry and bulk commodities.

APSEZ CEO and whole-time director Karan Adani said: “Acquisition of GPL is a key milestone in consolidating our position as India’s largest transport utility and in achieving East Coast and West Coast parity.

“Gangavaram Port has excellent rail and road network connectivity and is the business gateway to the hinterland spread over eight states. The recent addition of a container handling terminal will enable us to accelerate our growth of cargo volumes.”