Adani to acquire 58% stake in Gangavaram port

24 Mar 2021 Editorial Team

Adani Ports and Special Economic Zone (APSEZ) is set to acquire a 58% stake in Vishakapatnam's Gangavaram Port Ltd (GPL) for Rs 3,604 crore.

Adani Ports had announced on March 3 the acquisition of Warburg Pincus's 31.5% stake in GPL, and together with this acquisition, APSEZ would have an 89.6% stake in GPL.

The company informed the media that it had signed an agreement on 23 March 2021, with the DVS Raju and Family to acquire a 58.1% stake in GPL.

The acquisition is in line with the company's strategy of East Coast to West Coast parity and will provide access to growth from new hinterland markets as it has coverage in resource-rich and industrial belt in eastern, central and southern India, Adani Ports added.

Adani Ports added further that the acquisition is expected to be completed within six months.

GPL is located near Visakhapatnam port, and is the second-largest, non-major port in Andhra Pradesh, with a 64 million metric tonne (mmt) capacity established under a concession from the Government of Andhra Pradesh (GoAP) that extends till 2059.

It is an all-weather, deep water, multipurpose port capable of handling fully laden super cape size vessels of up to 200,000 DWT. Currently, GPL operates nine berths and has freehold land of 1,800 acres. The port, floated by Chairman and Managing Director DVS Raju, is engaged in the business of handling various types of dry bulk and break bulk cargo.

Image Source

Also read: Three new ports in Andhra to help boost maritime trade

Also read: Adani Ports market cap crosses Rs 1 trillion mark

Also read: APSEZ acquires 75 per cent stake in KPCL

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..