India's Adani Ports, APSEZ's acquires 10.4% stake in GPL; CCI approves

APSEZ is an integrated port infrastructure services provider currently present across 11 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

GPL owns, develops and operates the deep-water port at Gangavaram, Andhra Pradesh, pursuant to a concession agreement on Build-Own-Operate-Transfer basis with government of Andhra Pradesh for a concession period of thirty years from the date of commercial operations and entitled for a further period of 20 years (two periods of 10 years each), the Indian ministry of corporate affairs said in a press release.

Fibre2Fashion News Desk (KD)