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Adani Ports acquire 25% of Vishwasamudra's stake in Krishnapatnam Port

Private sector ports and logistics company Adani Ports and Special Economic Zone Ltd. (APSEZ) is acquiring the residual 25 per cent stake in Adani Krishnapatnam Port Ltd., (Krishnapatnam Port) for Rs 2,800 crore.
With this, APSEZ will increase its stake from 75 per cent to 100 per cent in Krishnapatnam Port, the country s second largest private sector port. The acquisition will be completed by buying 25 per cent from Vishwa Samudra Holdings.
Together with the 75 per cent ownership acquired in October 2020, the acquisition implies an enterprise value of Rs 13,675 crore implying an EV/FY21 EBITDA multiple of 10.3x.
Krishnapatnam Port is located on the east coast of India in Nellore district of Andhra Pradesh (180 km from Chennai Ports) close to the border between Andhra Pradesh and Tamil Nadu. It is an all-weather, deep water port and has a multi-cargo facility with a current capacity of 64 MMTPA. With a waterfront of 20 km and 6,800 acres of land, Krishnapatnam Port ....

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Adani buys ₹2,800-crore stake in Krishnapatnam

APSEZ now owns 100% of the A.P. port
Adani Ports and Special Economic Zone Ltd. (APSEZ) has bought the residual 25% stake in Adani Krishnapatnam Port Ltd. (Krishnapatnam Port) from Vishwasamudra Holdings for ₹2,800 crore, a top official said.
“The consolidation of ownership in Krishnapatnam reinforces APSEZ’s strides towards 500 MT (million tonnes) by 2025 and achieving our broader strategy of cargo parity between the West and East coasts of India,” said Karan Adani, CEO and whole time director.
“Krishnapatnam Port is on track to handle double the traffic by 2025 and will deliver high growth through a multi-product and cargo-enhancement strategy while enhancing return on capital employed,” he said. ....

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Buhari Hiding In United Kingdom While Nigeria Is On Fire— HURIWA

Buhari Hiding In United Kingdom While Nigeria Is On Fire— HURIWA
saharareporters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saharareporters.com Daily Mail and Mail on Sunday newspapers.

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Adani is bridge between Modi and Pinarayi, opposition leader releases letter of award for contract

Sunday 04 April, 2021 | 10:35 AM
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THODUPUZHA: Opposition leader Ramesh Chennithala reiterated corruption in KSEB-Adani deal. He clarified that the government entered into two agreements with Adani and released the letter of award for the contract. The chief minister had the other day challenged opposition leader to release the document if KSEB has made an agreement with Adani. Chennithala said an agreement to purchase power from Adani in four phases was made and the power regulatory commission had written to the government before giving the letter of award.
The agreement to buy power from Adani was signed in four phases from April 1 to 15, April 16 to 30, May 1 to 15 and May 16 to 31, 2021. The short-term deal with Adani was not signed as the election code of conduct prevails. Instead, the agreement was made by awarding an equivalent letter of award. The regulatory commission said Kerala has been a power surplus state for the l ....

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As S/East boils: Police disappear from roads, go to work in mufti

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As S/East boils: Police disappear from roads, go to work in mufti
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By Vincent Ujumadu
THE entire five South Eastern states of Abia, Anambra, Ebonyi, Enugu and Imo appear to be boiling and there is tension in most communities, no thanks to the renewed insecurity challenges in the zone.
Since the beginning of 2021, there had been bloodbath in most of the states and there appears to be no solution in sight.
The latest incident involving the former governor of the Central Bank of Nigeria, CBN, Professor Chukwuma Soludo in which gunmen swooped on the venue of a town hall meeting of the Professor of Economics and governorship aspirant of All Progressives Grand Alliance, APGA, for the November 6 election in Anambra State and killed three policemen and took their arms, was the climax of the frightening situation. ....

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