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15 May 2021 The on-line newspaper devoted to the world of transports 23:05 GMT+2

March 23, 2021

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To Adani Ports 89.6% of the Indian port of Gangavaram

Acquired ulterior a 58.11% of the capital

The harbour group Indian Adani Ports and Special Economic Zones (APSEZ) has acquired from the family of cinematographic entrepreneur Indian DVS Raju 58.11% of the capital of the Gangavaram Port Ltd. (LPG), the society that manages the port of Gangavaram within a contract of ulterior concession of the duration 30-year-old estendibile of 20 years that has been undersigned in August 2003. The harbour port of call is situated to Visakhapatnam, in the Indian State of Andhra Pradesh on the coast oriental of India. The acquisition has happened for 36 billion rupees (496 million dollars).

At the beginning of this month APSEZ it had acquired from Windy Lakeside Investment Ltd. , an associate of the American society of private Warburg Pincus equities, 31.5% of the capital of the LPG for 19,5 billion rupees. With new acquisition now APSEZ it stops altogether 89.6% of the capital of the Gangavaram Port Ltd. Remaining 10.39% of the LPG are of property of the government of Andhra Pradesh.

The port of Gangavaram has an ability to annual traffic of 64 million tons.

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