Adani Ports completed the acquisition of a 75% stake in KPCL from 3i Group and Navayuga for $1.9bn.

Adani Ports and Special Economic Zone, a privately owned multi-port operator, completed the acquisition of a 75% stake in Krishnapatnam Port, a deepwater port on the east coast of India, from private equity firm 3i Group and Indian conglomerate Navayuga for $1.9bn. “This transformational acquisition enables us to roll out world class customer service to an increased customer base and provide pan India solution to them. Our experience of turning around acquisitions like Dhamra and Kattupalli ports will enable us in harnessing the potential of KPCL. We will target to enhance throughput at KPCL to 100m tonnes by FY25 and double its EBIDTA by FY23," Karan Adani, APSEZ CEO and Whole Time Director.