Adani to set up a multi-purpose port in Malaysia
The Dollar Business Bureau Adani Group on Monday signed an agreement with Malaysia’s MMC Ports with the possibility of setting up a multi-purpose port majorly to handle containers at the Carey Island of Malaysia. A memorandum of understanding (MoU) has been signed by Adani Ports with MMC Ports of Malaysia to conduct a feasibility study of Carey Island Port Project as an expansion of the Port Klang, which is presently the world’s 11th busiest container port. Besides, the two sides will have collaboration with Sime Darby Property, the subsidiary of Malaysian multinational Sime Darby Berhad, to conduct a feasibility study to develop an integrated maritime city that will support the new multi-purpose port. In a release to the press Karan Adani, CEO – APSEZ said, “Malaysia ...
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 ...
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 ...
