Indian ports and logistics company Adani Ports and Special Economic Zone (APSEZ) has taken over full ownership of Krishnapatnam Port after acquiring the outstanding 25 per cent stake of Vishwa Samudra Holdings for a total value of approximately INR28 billion (US$381.8 million).
Krishnapatnam Port, India’s second largest private sector port, is located on the country’s east coast in the Nellore district of Andhra Pradesh close to the border with Tamil Nadu. It is an all-weather, deep-water port and multi-cargo facility with a current capacity of 64 million tonnes per annum.
With a waterfront of 20 kilometres and 2,700 hectares of land, Krishnapatnam Port has a master plan capacity of 300 million tonnes per annum and a 50-year concession.
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