Gautam Adani Group company- Adani Ports and Special Economic Zone (AP-SEZ) has signed a concession agreement with DPA Container and Clean Cargo Terminal Limited. Under this, there is a plan to develop ghat number 13 at Deendayal Port in Kandla, Gujarat. These ghats are places for ships to stay. Talking about ghat number 13, it will be 300 meters long and has an annual capacity of 57 lakh tonnes. It is likely to be operational in the financial year 2026-27.
Deal for 30 years
Let us tell you that AP-SEZ received a letter of intent for the development, operation and maintenance of the ghat for a concession period of 30 years in July 2024. According to Ashwini Gupta, Chief Executive Officer and Whole-time Director of AP-SEZ, Ghat No. 13 will diversify our presence at Deendayal Port. Now we will handle multipurpose clean cargo at the port. Apart from this, we are also going to handle dry bulk cargo.
share status
Talking about the stock of Adani Ports, it closed at Rs 1430.20 on Wednesday. The stock fell 1.58% as compared to the previous day. The 52-week low of the stock is Rs 754.50. This price was in October 2023. In June 2024, the stock price was Rs 1,607.95. This is the 52-week high of the stock.
Bet on Astro Offshore
Recently, Adani Ports has signed an agreement to buy 80 percent stake in Astro Offshore for $185 million. Astro’s existing promoters will retain the remaining 20 percent stake. Formed in 2009, Astro is a leading global offshore support vessels (OSV) operator in West Asia, India, Far East Asia and Africa. Astro has a fleet of 26 offshore support vessels. As of April 30, 2024, Astro had revenue of $95 million and EBITDA of $41 million.
