Adani Ports and Special Economic Zone (APSEZ) has bought Krishnapatnam Port (KPCL) for a whopping Rs.135 billion, acquiring a controlling stake of 75 per cent from the later's existing shareholders. The acquisition is subject to regulatory approvals. For Karan Adani, CEO & Whole Time Director, APSEZ, KPCL is a crown jewel to join APSEZ's string of pearls, our network of 10 economic gateways to India, and this acquisition, would accelerate our stride towards FY2025 vision of handling 400 MMT of cargo. Given the best-in-class infrastructure and the distinct hinterland catered by KPCL, this acquisition will not just increase our market share to 27 per cent but also add remarkable value to our pan-India footprint.” With Adani’s experience of successfully turning around acquisitions of Dhamra and Kattupalli ports, the firm is confident of harnessing the potential of KPCL.