In a deal between two of India’s larger conglomerates a port on the nation’s east coast has changed hands. The Adani Group has bought Kattupalli Port in Tamil Nadu from Larsen and Toubro for an undisclosed sum.
The port, situated near Chennai, started operations nearly three years ago and has a box terminal with two berths and a 710 m quayside capable of handling up to 1.2m teu per year.
Adani is building a big box terminal at Ennore, 10 km away from Kattupalli, and the group’s chairman, Gautam Adani said in a release the acquisition of the latter was a strategic complement to Ennore.
Adani operates another seven ports across India.