APSEZ net profit grows over 38% in Q4 2016
The Dollar Business Bureau Adani Ports and Special Economic Zone's (APSEZ) net profit grew 38.34% to Rs. 914.06 crore in Q4 March 2016, the company said on Wednesday in a statement. The company’s net profit was Rs.660.73 crore in the corresponding quarter of 2014-15. APSEZ’s EBITDA (earnings before interest, taxes, depreciation and amortisation) excluding other income, increased by 12% to Rs.1225 crore in Q4 March 2016 over the corresponding period of 2015. Cargo handling across all APSEZ ports, too, climbed 5% to 152 million metric tonnes (MMT) during 2015-16 over the corresponding period of 2015. The APSEZ, in a separate statement, said it has decided to seek shareholders' nod to raise funds by issuing equity shares/convertible bonds for up to Rs.10000 crore. Following the announcement, APSEZ’s ...
Mundra port to be a transshipment hub
Through expansion of its international wing, Adanis aims to position Mundra as the largest Container Port in the country with 4 state-of-the-art container terminals The Dollar Business Bureau With this expansion, Mundra will emerge as a transshipment hub for the Middle East, South Asia & India, says Karan Adani, Chief Executive Officer, Adani Ports & Special Economic Zone Limited Aimed at creating trans-shipment hub for the Middle East, South Asia and India, Adani Ports & SEZ Ltd. (APSEZL) announced of expanding its existing terminal -Adani International Container Terminal Private Limited (AICTPL), at its flagship Mundra port. The construction of the terminal, which will be capable of handling 18,000 TEU container vessels, has already commenced and is expected to be commissioned with in fifteen ...
Adani inks MoU with L&T to acquire Kattupalli Port
The Dollar Business Bureau Adani Ports and Special Economic Zone (APSEZ) through its subsidiary Adani Kattupalli Port Private Limited (AKPPL), on Monday, entered into an agreement with L&T Shipbuilding (L&T) to acquire the latter’s Kattupalli Port in Tamil Nadu. The strategically-located port has the potential to become the biggest trans-shipment hub in the region. The two operators are waiting for the necessary approval from the government of Tamil Nadu as well as the central government for completing the acquisition process. “The Kattupalli agreement is yet another step by us to continue to enable the development of the port infrastructure that is critical for our country. The Kattupalli port is a strategic complement to our Ennore Container terminal which is getting commissioned ...
Vizhinjam Port: Kerala government, Adanis to ink pact on August 17, 2015
Source: PTI Taking a major step forward on the state's ambitious Rs 7,500 crore Vizhinjam deep sea port project, Kerala government and Adani Ports decided to sign the construction agreement on August 17. The decision was taken at a meeting by Chief Minister Oommen Chandy with Adani Ports Officials, including the company's Executive Director Karan Adani. It was also decided to start the construction work on November 1, the state's formation day, Ports Minister K Babu told reporters after the meeting. Karan Adani said that even though the construction period is four years as per the agreement, the company plans to complete the work in two years. Babu said that the CM would write to Prime Minister Narendra Modi ...
