Business News: Adani Group to Sell 49% Stake of Adani Ennore Container Terminal

18 Dec, 2023 Author: Ayushee Joshi

Business News: For the operation of Adani Ennore Container Terminal Pvt Ltd (AECTPL), Adani Ports and Special Economic Zone Ltd (APSEZ) announced a strategic partnership with Terminal Investment Limited (TiL), the container terminal operating and investing arm of Mediterranean Shipping Company (MSC). This is Adani Group’s second collaboration with MSC, following the signing of a joint venture with TIL in 2016 for the CT3 container terminal at Mundra Port. The Mundra Port and Special Economic Zone (MPSEZ) is operated by Adani International Container Terminal Pvt Ltd (AICTPL).

About Adani Ennore Terminal

Terminal Investment Ltd, through its wholly owned subsidiary Mundi Ltd, will acquire a 49 percent stake in AECTPL as part of the partnership. According to Adani Ports, AECTPL is located on India’s east coast and has a quay length of 400 meters and an annual handling capacity of 0.8 million TEUs. In FY23, the terminal handled 0.55 million TEUs, and in the first eight months of the current fiscal year, it handled 0.45 million TEUs. The terminal’s concession period runs until 2044, and its annual capacity can be increased to 1.4 million TEUs, according to the company.