Adani Buys 75% Stake in Krishnapatnam Port
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest private sector port operator, has agreed to buy a 75% stake in Krishnapatnam Port Co. Ltd (KPCL) at an enterprise value of INR 13,572 crore (US $1.9 billion). KPCL is located in the southern part of Andhra Pradesh, the state with the second largest coastline of in India, and is a multi-cargo facility which handled 54 MMT in FY19.This acquisition will accelerate APSEZ’s stride towards 400 MMT by 2025.Acquisition value of KPCL is approximately Rs.13,500 cr.
APSEZ to Buy 75% Stake in Krishnapatnam Port
Adani Ports and Special Economic Zone (APSEZ) said on Friday it would buy a 75% stake in Krishnapatnam Port Co Ltd (KPCL) for an enterprise value of 135.72 billion rupees ($1.89 billion).The deal will take its domestic market share to 27% from 22% on a pan-India basis, the company said in a filing to exchanges.The port, located in the south eastern state of Andhra Pradesh, is the second-largest private sector port in India and handled 54 MMT of cargo in 2019."APSEZ will target…
Engie Crosses 1.5 GW Renewable Capacity in India
French power group Engie’s total renewable capacity in India now exceeds 1.5 GW. The company recently bagged a 200 MW onshore wind project in the state of Gujarat from Solar Energy Corporation of India.ENGIE is all set to sign a 25-year power purchase agreement (PPA) with Federal Government entity, SECI.Earlier, Engie won a 280 MWp solar project from Gujarat Urja Vikas Nigam Limited. The project—part of the Raghanesda solar park—is currently under development. Under the scope of the project…
Adani Ports Q4 profit up 41%
Adani Ports and Special Economic Zone (APSEZ), India’s largest private multi-port operator, reported a 41.45 percent surge in its consolidated net profit to INR 1,314.19 crore (USD 188.4million) for the quarter ended on March 31, 2019.However, its revenue fell 3.15 percent to INR 31 billion, said a stock exchange annoucement. Its coal volumes rose 30 percent year-on-year during the quarter, while the cargo volume increased 19 percent.The company also reported a record cargo throughput of 54 million metric tonnes in the three months ended March, according to the filing.
Cyclone Slams Indian Coast, Millions Evacuated
A cyclone barrelled into eastern India on Friday, bringing down trees and power lines and "extensively" damaging the tourist town of Puri, but there were no early reports of casualties with a million people evacuated before it made landfall.Tropical Cyclone Fani, the strongest to hit India in five years, spent days building up power in the northern reaches of the Bay of Bengal before it struck the coast of the state of Odisha at around 8 a.m., the state-run India Meteorological Department (IMD) said.Howling winds gusting up to 200 kph (124 mph) whipsawed trees, uprooting scores, and driving rain impacted visibility, while streets were deserted in the state capital Bhubaneswar and Puri."Damage in Puri is extensive…
Evacuations Underway as Cyclone Menaces India's Coast
India has evacuated more than 300,000 people along its northeast coastline by boat, bus and train ahead of a severe cyclone due to make landfall on Friday, with many villagers piling household possessions on to trucks before fleeing their homes.Severe cyclonic storm Fani was churning up the Bay of Bengal about 320 km (198 miles) south-southwest of the Hindu temple town of Puri where special trains were put on to evacuate tourists and the beaches were empty.In total, about 1.2 million people are expected to be evacuated from low-lying areas of 15 districts in the eastern state of Odisha to cyclone shelters, schools and other buildings…
APM Terminals Pushes Solar Energy in India
South Asia's APM Terminals Inland Services, operator of port and integrated inland service networks, is helping set up solar power plants in deep pockets of India.The global terminal network company is providing tailor-made logistics solutions to help overcome transport, technical and procedural challenges.The company is now offering a new end-to-end solution for major solar projects, which includes receiving cargo at the sea-port, facilitating customs inspection and clearance…
CEMS Rolls out Hi-tech Labs in Visakhapatnam
India's Centre of Excellence in Maritime & Shipbuilding (CEMS), a well-funded startup in skill development for maritime and shipbuilding sector has announced thatits hi tech labs at Visakhapatnam are ready for starting orientation programmes for trainees. A seminar was held on 13th July 2018 in Vishakhapatnam to inform stakeholders about the facilities in the labs and to begin the process of training. This is shortly after CEMS announced the readiness of its Mumbai labs. CEMS is promoted by Indian Register of Shipping (IRClass) in partnership with Siemens and Ministry of Shipping.
Fire Stricken Box Ship SSL Kolkata Sits Aground
Responders are facing challenging monsoon season conditions as they work to salvage a containership that caught fire and grounded in the in the Bay of Bengal last month.The stricken containership SSL Kolkata remains aground in soft mud some 7.5 nautical miles off the Indian Sunderbans, Kolkata, West Bengal, after an explosion in one of the containers lit a fire on board the vessel on June 13.An oil spill response team from OSRL has arrived on scene and is the process of managing the counter pollution operations as responders battle challenging weather conditions…
Adani Ports Acquires Kattupalli Port
India's largest port developer Adani Ports and Special Economic Zone (APSEZ) has agreed to pick up 97% stake in Marine Infrastructure Developer (MIDPL) from Larsen & Toubro at an enterprise value of Rs 1,950 crore ($284 million). According to a press release from the company, Kattupalli Port is one of the most modern ports in India emerging as Chennai’s New Gateway for EXIM trade in Chennai/Bangalore region and provides a whole new dimension of services with speed and sophistication.
22 Rescued from Containership Ablaze in the Bay of Bengal
The Indian Coast Guard said it has rescued all 22 crew members from a containership that caught fire around midnight in the Bay of Bengal.Coast Guard vessels arrived on scene Thursday morning and rescued all crew and the captain from Indian flagged SSL Kolkata, Coast Guard Commander Inspector General (NE) Kuldip Singh Sheoran said.SSL Kolkata was sailing from Krishnapatnam in Andhra Pradesh to Kolkata when the fire broke out due to an explosion in one of the containers, local media reported.Sheoran said the ship is carrying 464 containers on board.With all crew evacuated…
Maersk Line Scale Up Innovative Smart Reefers in India
In the past one year, Maersk Line, the global containerized division of the Maersk Group has enabled movement of multiple consignments of complex cargo out of India successfully, said a press release. Due to its global presence and network, the exporter network of India has been able to successfully reach out to newer geographies. Commenting on the achievement, recently appointed Managing Director for Maersk Line (India, Sri Lanka, Nepal, Bangladesh, Maldives and Bhutan), Steve Felder said, ”In the past 18 months or so, we have expanded our horizon in various new commodity categories.
Maersk Line New Services at Kakinada Port
Maersk Line India announced the introduction of Export and Import service offerings at Kakinada port in Andhra Pradesh. This End to End service (Store Door) will enable customers in the region to reach global touch points. With this first time offering in Kakinada, Maersk Line will be able to containerize cargo at its origin, cut out wastage and complexities of dealing with multiple vendors and help move it to port in a cost-effective manner. This will have a direct bearing on…
India Develops 14 Economic Zones for Port-led Industrialization
For promoting port-led industrialization, 14 Coastal Economic Zones (CEZs) covering all the Maritime States and Union Territories have been identified as part of the National Perspective Plan under the Sagarmala Programme. The Perspective Plans for all 14 CEZs have been prepared in consultation with relevant State Governments and Central Ministries. The idea behind developing the zones is to promote 'development of port-proximate industrial clusters'. Gujarat, Maharashtra, Karnataka…
India to Establish Center of Excellence in Maritime and Ship Building in 2 Cities
A world class Center of Excellence in Maritime and Ship Building (CEMS) is being set up by Ministry of Shipping in collaboration with Siemens and Indian Register of Shipping (IRS) under the Ministry’s flagship Sagarmala Program. CEMS will have campuses at Vishakhapatnam and Mumbai, and will provide industry-relevant skill development, equip students with employable engineering and technical skills in the port and maritime sector and contribute to the Government of India’s ambitious Sagarmala programme.
Financial Support for Coastal Berths in India
The Ministry of Shipping in India has taken up projects worth Rs 2,302 crore (USD 356million) for financial assistance under the Coastal Berth Scheme of the flagship Sagarmala Programme. The Ministry, after due appraisal in consultation with NITI Aayog and Department of Expenditure, has extended the period of the scheme for three years, upto 31st March, 2020 and expanded its scope to cover capital dredging at Major Ports and preparation of DPR for coastal berth project, in Oct 2017.
India to Develop Muktyala to Vijayawada Stretch of Krishna River
Indian Vice President Venkaiah Naidu will lay the foundation stone for the development of Muktyala to Vijayawada stretch of Krishna River (National Waterways – 4) today (October 03) in Vijayawada, Andhra Pradesh. He will also inaugurate approximately 415 km of National Highways projects worth Rs 1928.46 crores and lay the foundation stone for another 250 km NH projects worth Rs 2539.08 crores. The Minister of Road Transport & Highways, Shipping and Water Resources, River Development…
Hindustan Shipyard May Get $3.1bln Order
India's Hindustan Shipyard Limited (HSL) has received a proposal from United Shipbuilding Corporation of Russia for a strategic partnership, The Hindu reported. The report said that the Russian shipyard will be placing orders worth INR 200bln (USD 3.1bln) immediately. The move came up for discussion when Andhra Pradesh Economic Development Board CEO J. Krishna Kishore recently met HSL Chairman and Managing Director Rear Admiral L.V. Sarat Babu. HSL was brought under the control…
AG&P, Hindustan to Build a New LNG Import Terminal in India
Atlantic, Gulf and Pacific Company (AG&P) and Hindustan LNG (HLNG) have signed a Memorandum of Understanding (MoU) to supply tolled gas to power stations in the East Godavari region of Andhra Pradesh, India. Under the agreement, AG&P will provide an integrated solution to deliver regasified LNG through a new LNG import terminal that AG&P will also design and build at the port in Andhra Pradesh. AG&P is a leading global integrator of LNG infrastructure solutions including LNG terminals and the supply chains that emanate from them.
DP World Reaffirms Commitment to India's Growth
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem met with the Honourable Prime Minister of India Shri. Narendra Modi at the 8th edition of the Vibrant Gujarat Global Summit held in Ahmedabad, India. Discussions highlighted the immense potential of India’s growing economy and the nation’s maritime and inland trade. New opportunities resulting from the Prime Minister’s programmes such as Invest India, Digital India, Skill India and Made in India were also on the agenda, evidence of the new economic direction of the country. Mr.
Indian Ministry of Shipping Updates on Sagarmala Program
Sagarmala Programme, an ambitious port-led infrastructure development programme of the government to harness India’s 7,500-km, is now moving from the conceptualization and planning to the implementation stage. The National Perspective Plan (NPP), for the comprehensive development of India’s coastline and maritime sector, has been prepared and was released at the maiden Maritime India Summit 2016, on 14th April, 2016, by the Hon’ble Prime Minister. As part of Sagarmala, more than 400 projects, at an estimated infrastructure investment of more than Rs.
14 CEZs to Come Up in India Under Sagarmala
The Government has identified fourteen Coastal Economic Zones (CEZ) along the coastline of the country under National Perspective Plan (NPP) of Sagarmala Programme. The CEZ are spatial economic regions spread over multiple coastal districts with strong port linkage. Within each CEZ, there could be multiple industrial clusters that could contain industrial units with requisite support infrastructure. In the state of Gujarat there will be three CEZs - (1) Kandla-Mundra, (2) Pipavav-Sikka and (3)Dahej-Hazira.
India to Develop Coastal Economic Zones
In its move to boost the ruling party's flagship Sagarmala (string of ports) project, the government of India is developing Coastal Economic Zones (CEZs). The National Perspective plan of the Sagarmala Programme has identified two maritime clusters for development, one in Tamil Nadu and other in Gujarat. Fourteen Coastal Economic Zones(CEZ) have been identified along the coastline of the country in the National Perspective Plan of the Sagarmala Programme. These CEZs are aimed at promoting development of port-proximate industrial clusters…