Adani Ports Gets Lenders' Nod For Karanja Terminal Buy

27 Apr 2026 CW Team

Adani Ports and Special Economic Zone (APSEZ) has secured approval from the Committee of Creditors to acquire Karanja Terminal & Logistics, a multi-purpose port and logistics facility in Maharashtra's Raigad district. The creditor committee, led by Prudent ARC after Canara Bank assigned the debt to the asset reconstruction company in January 2025, approved the resolution plan with 100 per cent voting support on April 14. The approval advances the proposed acquisition through the insolvency framework.

If finalised, the transaction would mark APSEZ's third port and terminal purchase under India's insolvency process, following earlier acquisitions of Dighi Port in Maharashtra and Karaikal Port in Puducherry. Both Dighi and Karanja sit strategically close to Jawaharlal Nehru Port, India's busiest container gateway by capacity, and the deal is expected to consolidate APSEZ's western India operations and provide synergies in container and bulk handling across nearby facilities.

Karanja Terminal & Logistics operates a port capable of handling vessels of up to 4,000 DWT and encompasses a modern logistics park spread across around 100 acres, including warehousing, bonded storage, cold storage and cargo value-added services. The facility's multipurpose design supports bulk, breakbulk and containerised cargo flows and offers storage and distribution capabilities that can integrate with APSEZ's existing terminal network and inland logistics operations.

Mercantile Ports and Logistics, the current parent of Karanja Terminal, has opposed the creditors' decision and intends to pursue legal remedies to regain control of the asset, asserting that it had presented a proposal to fully repay creditors that was rejected. The outcome of any legal challenge will determine the timeline for transfer, yet a completed acquisition would further strengthen APSEZ's footprint in western India and deepen its presence in the maritime infrastructure and logistics segment.

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