Monday, June 23, 2025
Home News APSEZ gets green light for Gangavaram port takeover

APSEZ gets green light for Gangavaram port takeover

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest ports and logistics company and part of Adani Group, has received approvals from NCLT Ahmedabad and NCLT Hyderabad for acquiring the remaining 58.1% stake in Gangavaram Port Limited (GPL).

With this stake purchase, GPL will become a 100% subsidiary of APSEZ, whose CEO and 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 & West Coast parity.”

The acquisition of GPL is priced at around US$754 million.

Gangavaram Port is located in the northern part of Andhra Pradesh next to Vizag Port. It is the third largest non-major port in Andhra Pradesh with a 64 MMT capacity established under concession from the Government of Andhra Pradesh (GoAP) that extends till 2059.

It is a deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT. Currently, the port operates nine berths and has freehold land of around 7.3 million m². In FY2022, the port handled cargo volumes of around 30 million metric tonnes

“With a master plan capacity for 250 MMTPA with 31 berths, GPL has sufficient headroom to support future growth,” pointed out APSEZ.





Antonis Karamalegkos
Managing Editor

Latest Posts

Shipping risks rise as Taiwan Strait emerges as strategic flashpoint

China’s military blasted the Royal Navy patrol ship HMS Spey for its deliberate attempt to cause trouble as the vessel threaded the Taiwan Strait. Britain’s...

Maersk suspends calls to Haifa amid rising regional tensions

Maersk has decided to temporarily suspend vessel calls to the Port of Haifa, Israel, as well as halt cargo acceptance for this destination. In light...

Strait of Hormuz tensions put global shipping and markets on edge

The weekend US airstrikes on three Iranian nuclear facilities have pushed the maritime community onto what one operator called maximum alert. ...

Latin America trade volumes increased in 1Q 2025

Latin America's containerized trade volumes increased by 5% in the first quarter of 2025 compared to the same period in 2024, according to provisional...

GXO appoints Patrick Kelleher as Chief Executive Officer

GXO Logistics has announced the appointment of Patrick Kelleher as its new Chief Executive Officer, effective August 19, 2025. Kelleher joins GXO with more than...
error: Content is protected !!