+
 Adani Ports buys 49.38% stake in Indian Oiltanking
PORTS & SHIPPING

Adani Ports buys 49.38% stake in Indian Oiltanking

Adani Ports and Special Economic Zone Ltd (APSEZ) announced that it had purchased a 49.38 percent stake in Indian Oiltanking Ltd for Rs 10.5 billion,a developer and operator of liquid storage facilities.

In a statement, APSEZ said that this agreement also includes the purchase of an additional 10% equity stake in IOTL's subsidiary, IOT Utkal Energy Services Ltd.

"APSEZ has entered into a definitive agreement for the acquisition of Oiltanking India GmbH's 49.38 per cent equity stake in Indian Oiltanking Ltd, which is one of India's largest developer and operator of liquid storage facilities," it said.

The statement claims that the acquisition fits in well with APSEZ's plan to become the biggest transport utility.

According to the statement, IOTL has spent the last 26 years constructing a network of six terminals spread across five states with a combined storage capacity of 2.4 million KL (owned capacity of 0.5 million KL and BOOT capacity of 1.9 million KL).

Navghar Terminal in Maharashtra, Raipur Terminal in Chhattisgarh, and Goa Terminal are among the owned facilities.

The diversified Adani group's flagship transportation division, Adani Ports and Special Economic Zones, is the biggest private port and logistics company in India.

See also:
Govt to reassess oil demand, refinery capacity projections
Shapoorji Pallonji, Bumi Armada build FPSO for ONGC


Adani Ports and Special Economic Zone Ltd (APSEZ) announced that it had purchased a 49.38 percent stake in Indian Oiltanking Ltd for Rs 10.5 billion,a developer and operator of liquid storage facilities. In a statement, APSEZ said that this agreement also includes the purchase of an additional 10% equity stake in IOTL's subsidiary, IOT Utkal Energy Services Ltd. APSEZ has entered into a definitive agreement for the acquisition of Oiltanking India GmbH's 49.38 per cent equity stake in Indian Oiltanking Ltd, which is one of India's largest developer and operator of liquid storage facilities, it said. The statement claims that the acquisition fits in well with APSEZ's plan to become the biggest transport utility. According to the statement, IOTL has spent the last 26 years constructing a network of six terminals spread across five states with a combined storage capacity of 2.4 million KL (owned capacity of 0.5 million KL and BOOT capacity of 1.9 million KL). Navghar Terminal in Maharashtra, Raipur Terminal in Chhattisgarh, and Goa Terminal are among the owned facilities. The diversified Adani group's flagship transportation division, Adani Ports and Special Economic Zones, is the biggest private port and logistics company in India. See also: Govt to reassess oil demand, refinery capacity projectionsShapoorji Pallonji, Bumi Armada build FPSO for ONGC

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?