APSEZ seeks environmental nod to boost Gangavaram port capacity

13 Dec 2021 CW Team

The capacity growth will be undertaken via modernisation or mechanisation of the existing nine berths within the sanctioned project area of 1,800 acre the port operator said in the application for environmental approval.

In the first half of FY2022, Gangavaram port managed 16 mt of cargo with revenue of Rs 617 crore, EBITDA of Rs 419 crore and an EBITDA margin of 68%.

In September, APSEZ told the media that it had closed the purchase of Gangavaram Port Ltd (GPL) for Rs 6,200 crore after acquiring the 10.4% stake possessed by the Andhra Pradesh Government for Rs 645 crore.

The boards of APSEZ and GPL have additionally sanctioned the merger of GPL with APSEZ taking into consideration GPL’s valuation of Rs 120 per share and fair value of APSEZ at Rs 754.8 per share, leading to a swap ratio of 159 shares in APSEZ for 1,000 shares in GPL for 58.1% stake owned by DVS Raju and family in GPL.

The merger is subject to clearance from the National Company Law Tribunal (NCLT), which is likely to be completed by March 31.

Earlier, in April 2021, APSEZ procured 31.5% from Windy Lakeside Investment Ltd, a unit of private equity firm Warburg Pincus, and signed an agreement to buy the controlling stake of 58.1% owned by DVS Raju and family in GPL. After the merger of GPL and APSEZ, DVS Raju and family will get approximately 4.8 crore shares resulting in about a 2.2% stake in APSEZ worth Rs 3,604 crore.

The purchase significantly extends APSEZ’s access to several new markets as a deep draft, modern, multi-focus ports, capable of managing completely laden super cape size vessels of up to 200,000 deadweight tonnes (DWT), Subrata Tripathy, Chief Executive Officer, Ports Vertical, APSEZ said during an analysts call.

Image Source

Also read: Adani Ports & SEZ to foray into West Bengal’s maritime sector
Also read: Adani Ports scraps plan to develop container terminal in Myanmar

Adani Ports and Special Economic Zone Limited (APSEZ) has applied for environmental approval to increase the cargo handling capacity of its recently obtained Gangavaram port in Andhra Pradesh by 20 million tonne (mt) a year to 60.95 mt from 40.95 mt. The capacity growth will be undertaken via modernisation or mechanisation of the existing nine berths within the sanctioned project area of 1,800 acre the port operator said in the application for environmental approval. In the first half of FY2022, Gangavaram port managed 16 mt of cargo with revenue of Rs 617 crore, EBITDA of Rs 419 crore and an EBITDA margin of 68%. In September, APSEZ told the media that it had closed the purchase of Gangavaram Port Ltd (GPL) for Rs 6,200 crore after acquiring the 10.4% stake possessed by the Andhra Pradesh Government for Rs 645 crore. The boards of APSEZ and GPL have additionally sanctioned the merger of GPL with APSEZ taking into consideration GPL’s valuation of Rs 120 per share and fair value of APSEZ at Rs 754.8 per share, leading to a swap ratio of 159 shares in APSEZ for 1,000 shares in GPL for 58.1% stake owned by DVS Raju and family in GPL. The merger is subject to clearance from the National Company Law Tribunal (NCLT), which is likely to be completed by March 31. Earlier, in April 2021, APSEZ procured 31.5% from Windy Lakeside Investment Ltd, a unit of private equity firm Warburg Pincus, and signed an agreement to buy the controlling stake of 58.1% owned by DVS Raju and family in GPL. After the merger of GPL and APSEZ, DVS Raju and family will get approximately 4.8 crore shares resulting in about a 2.2% stake in APSEZ worth Rs 3,604 crore. The purchase significantly extends APSEZ’s access to several new markets as a deep draft, modern, multi-focus ports, capable of managing completely laden super cape size vessels of up to 200,000 deadweight tonnes (DWT), Subrata Tripathy, Chief Executive Officer, Ports Vertical, APSEZ said during an analysts call. Image Source Also read: Adani Ports & SEZ to foray into West Bengal’s maritime sector Also read: Adani Ports scraps plan to develop container terminal in Myanmar

Real Estate

08 Oct 2025

Bennet & Bernard Unveil Dutch-Inspired ‘Casa El Toledo’ in Goa

Bennet & Bernard Group, Goa’s leading luxury real estate developer, has launched its newest project, Casa El Toledo, in Assagao. The enclave features 18 ultra-luxury 4 BHK Dutch-style villas blending European charm with tropical elegance. Each villa includes a private pool, double-height ceilings, open courtyards, alfresco dining areas, and English-inspired landscaping. The interiors are curated by noted Dutch designer Kelly Marie. Reflecting the grandeur of the Dutch Golden Age, Casa El Toledo harmonises heritage aesthetics with modern sensibilities. Expansive interiors flow..

Equipment

08 Oct 2025

Godrej Delivers Heaviest Ecolaire Surface Condenser to US Project

Godrej Enterprises Group’s Process Equipment business has manufactured and delivered its heaviest Ecolaire® Surface Condenser to date, weighing nearly 450 metric tonnes, for a power-generation project in the United States. The project, powered by natural gas and partly designed for hydrogen compatibility, marks another step in advancing clean energy systems. Produced at the company’s GreenCo-certified Dahej facility in Gujarat, the equipment demonstrates India’s growing engineering capabilities and reinforces Godrej’s ‘Make in India for the World’ vision. Hussain S..

Infrastructure Energy

08 Oct 2025

India, Brazil Discuss Energy Ties And Oil Investments

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors. The talks took place during a dinner hosted by Kenneth H da Nobrega, Ambassador of Brazil to India, at his residence in New Delhi.Mr Puri said the meeting focused on Indian investments in Brazil’s oil and gas sector, as well as expanding collaboration in energy transition and biofuels. “The enriching conversation revolved ar..