Adani acquires Dhamra Port

 Adani Ports and Special Economic Zone (APSEZ) announced that they have executed a definitive agreement with L&T Infrastructure Development Projects Ltd. and Tata Steel Ltd. to acquire 100 per cent stake in the Dhamra Port Company Ltd. (DPCL) at an enterprise value of `  5,500 crores. The Dhamra port is a deep draft, all weather multi-user port located on the East Coast of India in the state of Odisha. The port commenced operations in May 2011 and handled a total cargo of 14.3 million tonnes in FY14. The port has two fully mechanized existing berths, 63 kms of a private rail line connecting the Bhadrak station to the main trunk line and has already received environmental clearance for the development of 12 additional berths. “The Dhamra port acquisition now gives us an opportunity to replicate the development and phenomenal growth of the Mundra port on the eastern coast of India and thereby continue to execute on our pan India strategy” said Gautam Adani, Chairman of the Adani Group.