Adani Group acquires 97% stake in Kattupalli Port
New Delhi, June 28: Adani Ports on Thursday acquired 97 per cent stake in Marine Infrastructure Developer Pvt Ltd (MIDPL), the developer and operator of Kattupalli Port near Chennai.
Adani Ports, India's largest port developer and part of the Adani Group, said in a statement that it executed share purchase agreement with Larsen and Toubro (L&T) and MIDPL to acquire the stake.
Located 30 km towards north of Chennai, the Kattupalli Port is one of the most modern ports in the country which provides connectivity with hinterland of north Tamil Nadu, Chennai, the Bengaluru region and south Andhra Pradesh.
Karan Adani, CEO of Adani Ports and Special Economic Zone Ltd, said the Tamil Nadu government and the Commerce Ministry gave approvals for the acquisition in record time and his firm was committed to make Kattupalli port one of the largest ports in southern India.
"We are going to start our construction to diversify the cargo of the port and will be adding 40 MMT (million metric ton) of new capacity in next three years," he said.
The company said in a statement that it plans to transform the port into a multi commodity port to handle cargo like containers, automobiles, break bulk, general cargo, liquid cargo and project cargo.
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Samson, Jurel hand RR comfortable 7-wicket win over LSG
Lucknow, Apr 27: Skipper Sanju Samson led from the front with an unbeaten 33-ball 71 while Dhruv Jurel made 52 not out off 34 balls to guide Rajasthan Royals to a seven-wicket win over Lucknow Super Giants, in their IPL match here on Saturday.
Chasing 197, Samson and Jurel shared unconquered 121 runs for the fourth wicket to chase down the target in 19 overs.
Earlier, skipper KL Rahul hit a 48-ball 76 while Deepak Hooda made 50 off 31 balls to guide Lucknow Super Giants to a decent 196 for 5 against Rajasthan Royals.
Sent into bat, LSG rode on 115-run third-wicket stand between Rahul and Hooda to put up a fighting total.
Sandeep Sharma was the most successful bowler for RR, returning with figures of 2/31.
Brief Scores:
Lucknow Super Giants: 196 for 5 in 20 overs (KL Rahul 76, Deepak Hooda 50; Sandeep Sharma 2/31).
Rajasthan Royals: 199 for 3 in 19 overs (Sanju Samson 71 not out, Dhruv Jurel 52 not out; Amit Mishra 1/20).
