Adani Ports and Special Economic Zone (APSEZ) said that it has completed the acquisition of Dighi Port for Rs 705 crore. The company also said that it would invest more than Rs 10,000 crore to develop JNPT as an alternative gateway.
Adani Ports to invest Rs 10,000 crore in Dighi Port
Adani Ports and Special Economic Zone (APSEZ) said that it has completed the acquisition of Dighi Port for Rs 705 crore. The company also said that it would invest more than Rs 10,000 crore to develop JNPT as an alternative gateway. JNPT is India’s largest container port and one of the 12 largest ports in the country.
Port will be developed
APSEZ said in a statement that on 15 February 2021 APSEZ completed 100 percent acquisition of DPL at a cost of Rs 705 crore. DPL is APSEZ’s economic gateway to India’s east and west coasts that will establish the company’s presence in Maharashtra and contribute the most to India’s GDP. It further said that this would help APSEZ to serve customers in Maharashtra which would see growth in key industrial areas and Mumbai and Pune regions.
The statement said that APSEZ plans to invest more than Rs 10,000 crore to develop a multi-cargo port with world-class infrastructure. In addition, it will also invest in the development of rail and land routes infrastructure for easier and better cargo movement.
Port-based industries will cooperate
The statement said that the company will strengthen and upgrade the existing infrastructure and invest in the development of facilities for dry, container and liquid cargo. DPL will develop JNPT as an alternative gateway and invite and support the development of port-based industries on port lands.
Karan Adani, director and CEO of APSEZ, said the successful acquisition of DPL has added another goal to the construction of Adani Port, which will enhance service coverage in India’s economic sector. He said DPL is confident of creating better value for shareholders by focusing on the company’s growth, experience and acquisition skills.