APSEZ to acquire Karaikal Port for $181m.

Adani Ports and Special Economic Zone, a transport utility in India, agreed to acquire Karaikal Port, an all-weather deep water port, for $181m. “The acquisition of Karaikal Port is another milestone in consolidating our position as India’s largest transport utility. With acquisition of Karaikal port APSEZ now operates 14 ports in India. APSEZ will spend further INR 850 crores over time to upgrade infrastructure in order to reduce the logistics cost for the customers. We are envisaging to double the capacity of the port in the next 5 years and also add container terminal to make it a multipurpose port,” Karan Adani, APSEZ CEO and Whole-time Director.