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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6 held for murder of Congress leader in Ludhiana
Ludhiana (PTI): Six persons have been arrested in connection with the murder of Congress leader Parminder Tiwari, who was hacked to death with an axe on Sunday in Machhiwara here.
Tiwari, the block president of the Congress party from Machhiwara in Ludhiana, was murdered on March 29 while sitting outside his rented quarters near Takhran village
Deputy Commissioner of Police Jaskaranjit Singh Teja stated the case is neither linked to politics nor gang rivalry.
The main accused, Vijay Kumar and Lucky, were apprehended in Jamalpura village in Munger district, Bihar, by a special team dispatched there, police said.
Preliminary investigations suggest that the suspects aimed to illegally occupy a piece of panchayat land in the Machiwara area, but Tiwari opposed their plans. The accused allegedly visited Tiwari at his rented quarters on March 29 and attacked him with an axe, resulting in his immediate death, officials said.
The other four individuals arrested are relatives of the main accused and were aware of the murder plot, the DCP added.
Police have recovered the axe used in the crime, as well as the motorcycle the accused used to flee the scene.
