One of India’s largest port developers, Adani Ports and Special Economic Zone, has concluded a share purchase agreement with Larsen and Toubro to acquire a 97% stake in Marine Infrastructure Developers, a company that operates Kattupalli port, near Chennai. The southern Indian port is fast emerging as an important gateway for export and import traffic flows in the Chennai and Bangalore region, and Adani sees significant growth potential there.
Adani Ports says it is committed to further expand Kattupalli port to make it one of the largest in this part of India. Investment in infrastructure and equipment will aim to diversify the range of cargoes handled by the port, and add around 40 million tonnes of annual capacity over the next three years. Presently the port has two berths with a quay length of 710m, which is equipped with six quayside gantry cranes and 15 RTGs, and has an annual capacity of around 1.2 million teu. Adani aims to transform Kattupalli into a multi-purpose port able to handle cars, breakbulk, liquid bulk, project and general cargoes, as well as containers.