+
CCI nods Adani Ports’ 10.4% stake acquisition in Gangavaram Port
PORTS & SHIPPING

CCI nods Adani Ports’ 10.4% stake acquisition in Gangavaram Port

Adani Ports and Special Economic Zone (APSEZ) has received approval from the Competition Commission of India (CCI) to acquire a majority stake in Gangavaram Port Limited.

According to a combination notice filed with the regulator, the 10.4% equity shareholding would be acquired from the government of Andhra Pradesh.

Adani Ports and Special Economic Zone operates 11 domestic ports in Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha, among other maritime states.

According to the notice, the Gangavaram Port has been contracted to own, develop, and operate a deep-water port in Gangavaram, Andhra Pradesh, under a build-own-operate-transfer (BOOT) concession agreement with the state government.

CCI is the competition authority in India. It is a government statutory body charged with enforcing the Competition Act, 2002, promoting competition across the country, and preventing activities that have a significant negative impact on competition in India.

Image Source


Also read: Andhra govt nods Adani Ports' bid to buy stake in Gangavaram Port

Also read: Unions protest Gangavaram port sale to Adani Port and SEZ

Adani Ports and Special Economic Zone (APSEZ) has received approval from the Competition Commission of India (CCI) to acquire a majority stake in Gangavaram Port Limited. According to a combination notice filed with the regulator, the 10.4% equity shareholding would be acquired from the government of Andhra Pradesh. Adani Ports and Special Economic Zone operates 11 domestic ports in Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu, and Odisha, among other maritime states. According to the notice, the Gangavaram Port has been contracted to own, develop, and operate a deep-water port in Gangavaram, Andhra Pradesh, under a build-own-operate-transfer (BOOT) concession agreement with the state government. CCI is the competition authority in India. It is a government statutory body charged with enforcing the Competition Act, 2002, promoting competition across the country, and preventing activities that have a significant negative impact on competition in India. Image Source Also read: Andhra govt nods Adani Ports' bid to buy stake in Gangavaram Port Also read: Unions protest Gangavaram port sale to Adani Port and SEZ

Related Stories

Gold Stories

Next Story
Real Estate

Kamdhenu Realities acquires 4-acre Navi Mumbai land parcel

Kamdhenu Realities has acquired a 4-acre land parcel from RPG Life Sciences on Thane-Belapur Road for approximately Rs 1.5 billion, expanding its commercial real estate portfolio in Navi Mumbai.The parcel has a total developable potential of 1.8 million sq ft, on which Kamdhenu plans to develop a destination-scale commercial and lifestyle ecosystem. The proposed development will combine corporate office suites with high-street retail, F&B outlets, double-height lobbies, business infrastructure and lifestyle amenities.Located close to IKEA and opposite the upcoming Pawane Railway Station, t..

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code