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27 October 2020 The on-line newspaper devoted to the world of transports 21:22 GMT+1

October 5, 2020

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Adani Ports completed the acquisition of 75% of the capital Krishnapatnam Port Co.

The stake was purchased for about 1.6 billion euros Dollars

Indian port group Adani Ports and Special Economic Zone (APSEZ) completed the acquisition of 75% of the company's capital Krishnapatnam Port Company, the company that owns and operates the Indian port of Krishnapatnam ( 3 January 2020). The stake was sold for 120 billion rupees (USD 1.6 billion) from the CVR Group and other Investors.

APSEZ CEO Karan Adani pointed out that Krishnapatnam is the second port India and announced that the goal of APSEZ is to to increase the volume of freight traffic handled by the port 100 million tonnes in fiscal 2025 (in the year 2018-2019 was more than 54 million tonnes). Adani also pointed out that the port of Krishnapatnam can be expanded to reach an annual traffic capacity 500 million tonnes.

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