Adani Ports & SEZ wins bid for Karaikal Port

01 Dec 2022 CW Team

Adani Ports & SEZ Ltd (APSEZ) has won the bidding for Karaikal Port with a Rs 12 billion offer that surpassed that of rival Vedanta, according to a report citing unnamed sources.

Bidding for the port was conducted under the Insolvency and Bankruptcy Code (IBC) guidelines.

The lenders to Karaikal Port met last week to approve APSEZ's offer, which will now be taken to the National Company Law Tribunal (NCLT) for final approval, said the report.

APSEZ and Vedanta declined to comment on the matter.

The 600-acre port, built under a public-private partnership between the government of Puducherry and Chennai-based MARG Ltd, faced financial constraints which resulted in the outstanding debt ballooning to Rs 30 billion crore due to defaults and delays in repayments.

APSEZ is the largest port operator in India and owns 12 ports including Mundra Port, the largest private port in the country. The company recently acquired Gangavaram Port in Andhra Pradesh for Rs 62 billion.

The Karaikal Port received initial bids from five applicants - JSW Infra, Jindal Power, APSEZ, Vedanta and a consortium of RKG Fund and Sagacious Capital. APSEZ and Vedanta eventually submitted binding financial bids whereas the others did not.

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..