Adani Ports and Special Economic Zone Ltd (APSEZ) has entered into a significant strategic partnership with Terminal Investment Limited (TiL), a subsidiary of the Mediterranean Shipping Company (MSC), for the operation of Adani Ennore Container Terminal Pvt Ltd (AECTPL). In this collaboration, TiL, through its subsidiary Mundi Ltd, will acquire a 49% stake in AECTPL from APSEZ for ₹247 crore.
This venture marks the second joint initiative between APSEZ and TiL, following their successful joint venture in 2013 for Adani International Container Terminal Pvt Ltd (AICTPL), which operates the CT3 Container Terminal at Mundra Port, the largest private commercial port in India.
The total enterprise value of AECTPL is estimated at ₹1,211 crore. The transaction is contingent on regulatory approvals, with APSEZ retaining a 51% stake in AECTPL after its completion.
AECTPL, located on India’s east coast, boasts a quay length of 400 meters and an annual handling capacity of 0.8 million TEUs (Twenty-Foot Equivalent Units). The terminal has demonstrated consistent growth, handling 0.55 million TEUs in FY23 and 0.45 million TEUs in the initial eight months of the current fiscal year. The concession period for the terminal extends until 2044, and its annual capacity has the potential for expansion to 1.4 million TEUs.
Karan Adani, CEO and Whole Time Director of APSEZ, expressed confidence in the partnership, stating, “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.”
This collaboration underscores the commitment of both APSEZ and TiL to leverage their synergies and expertise for the continued growth and success of container terminals in India.
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