Adani Ports to acquire L&T's Kattupalli Port in Tamil Nadu

Engineering and construction giant Larsen & Toubro (L&T) has entered into an agreement to sell Kattupalli Port in Tamil Nadu to Adani Ports for an undisclosed sum.

“Larsen & Toubro has entered into an in-principle agreement with Adani Kattupalli Ports (AKKPL), a subsidiary of Adani Ports and Special Economic Zone (APSEZ), for strategic sale of Kattupalli Port in Tamil Nadu,” the company said in a release.

L&T currently operates both the port and the shipyard through its subsidiary, L&T Shipbuilding (LTSB).

The strategic sale is subject to receiving the necessary approvals from the government of Tamil Nadu and central government, and the port being demerged from LTSB, L&T said, adding that the company has entered into an arrangement with AKPPL to hand over the operations of the port.

Kattupalli is a deep water all -weather port with an international container terminal located 35 km from Chennai. The port had commenced commercial operations in January 2013. It has two berths with a total quay length of about 710 metres and equipped to handle containers with an installed capacity of 1.2 million TEUs per annum.