The Adani group has finally zeroed in on a joint venture partner for its diversification into shipbuilding
Japanese Tsuneishi group.
According to sources, the Adani group is close to sealing the deal with Tsuneishi Shipbuilding Company for the Rs 1
,500 crore venture, in which it proposes to hold a majority stake. The Japanese partner, who will bring technical expertise to the venture, will hold a smaller stake.
Tentatively named Adani Shipyard, the proposed venture is expected to have a debt-equity ratio of 3:1 and is slated to come up at Mundra, that also houses the Adani group's port and special economic zone, the sources added.
Confirming the development, Adani group chairman Gautam Adani
, who is just back from a visit to Japan as part of a state-level business delegation, said that the joint venture agreement would be inked as soon as the feasibility study was completed.
source: Times of India