Adani Ports and Special Economic Zone (APSEZ) has entered into a significant partnership with Terminal Investment (TiL). This strategic collaboration involves TiL, through its subsidiary Mundi, acquiring a 49 percent stake in Adani Ennore Container Terminal (AECTPL) for Rs 247 crore.
This venture marks the second partnership between the two entities, following the 2013 joint venture for Adani International Container Terminal (AICTPL), which operates the CT3 Container Terminal at Mundra Port.
Karan Adani, CEO and Whole Time Director of APSEZ, expressed the aim to replicate the success of AICTPL at the Ennore Container Terminal, catering to the growing trade demands of South India. The total enterprise value of AECTPL is Rs 1,211 crore, and upon regulatory approval, APSEZ will retain a 51 percent stake in AECTPL post-transaction completion.
AECTPL boasts a quay length of 400 meters and an annual handling capacity of 0.8 million TEUs. The terminal, with a concession period until 2044, has the potential to extend its annual capacity to 1.4 million TEUs. In FY23, it handled 0.55 million TEUs and 0.45 million TEUs in the initial eight months of the current fiscal year.
