Adani Ports to divest 49% stake in Adani Ennore Container Terminal for ₹247 crore

This is Adani Ports’ second strategic partnership with TIL following a joint venture with Adani International Container Terminal Pvt Ltd (AICTPL), which operates CT3 Container Terminal at Mundra Port, the largest private commercial port in the country.

The total enterprise value of Adani Ennore has been pegged as ₹1,211 crore.

After the completion of the transaction, Adani Ports would hold a 51% stake in Adani Ennore. "With this second joint venture, we are now further deepening this strategic partnership in one of the fastest-growing container terminal markets in the south. We aim to replicate the AICTPL terminal’s success at the Ennore Container Terminal and service the trade needs of the South Indian market,” said Karan Adani, CEO and Whole Time Director of APSEZ.

In the fiscal year 2023, Adani International Container Terminal processed 0.55 million TEUs, and during the first eight months of the current fiscal year, it handled 0.45 million TEUs. The terminal's concession period extends until 2044, and there's potential for its annual capacity to be expanded to 1.4 million TEUs.

Adani Ports shares were trading 0.21% higher at Rs 1,077 apiece at 11am on December 15.