Adani Ports and Special Economic Zone Ld (NSE: ADANIPORTS) Gautam Adani Group Company: Adani Ports and Special Economic Zone (AP-SEZ) has signed a concession deal in conjunction with DPA Container and Clean Cargo Terminal Limited.
In this agreement, there is a plan to build Ghat 13 at Deendayal Port located in Kandla, Gujarat. These ghats provide a space where ships can stay.
In the case of ghat number 13 that will be 300 meters in length and can hold the equivalent of 57 lakh tons. It will start operating in the financial period 2026-27.
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Deal For 30 Years
AP-SEZ received an agreement letter in July 2024 to begin the operation, development, and upkeep of the ghat over 30 years.
According to Ashwini Gupta who is the CEO and Full Time Director of AP-SEZ Ghat 13 will broaden their activities in Deendayal port.
They will now handle multi-purpose clean cargo in the port. In addition, dry bulk cargo will also be handled.
Share Status
Concerning Adani Ports’ share, it ended at Rs 1,430.20 the previous Wednesday. The stock dropped 1.58 percent compared to yesterday’s closing.
The 52-week lowest of the stock is Rs 754.50. This price was recorded in October 2023. As of June 2024, the price was Rs 1,607.95.
This was the 52-week high of the share.
Bet On Astro Offshore
Recently, Adani Ports signed an agreement to purchase an 80 percent share of Astro Offshore for $185 million. The promoters who currently own Astro will own 20 percent of the stake.
Astro was founded in 2009 and is a major global offshore support vessel (OSV) operating in West Asia, Far East Asia, India, and Africa.
Astro operates an offshore fleet of 26 support vessels. At the end of 30 April 2024, Astro reported a revenue of $95 million in revenue and EBITDA in the amount of $41 million.
Quick Fact
| Company name | Adani Ports |
|---|---|
| Location | Deendayal Port, Kandla, Gujarat |
| Ghat number | 13 |
| Ghat length | 300 meters |
| Cargo capacity | 57 lakh tons |
| Operation start | Financial period 2026-27 |
| Deal duration | 30 years |
| Agreement received | July 2024 |
| CEO and Director | Ashwini Gupta |
| Additional cargo | Multi-purpose clean cargo, dry bulk cargo |
| Deal with | DPA Container and Clean Cargo Terminal Ltd |
| Share purchase | 80% of Astro Offshore |
| Astro Offshore founded | 2009 |
| Astro Offshore fleet | 26 support vessels |
| Astro Offshore regions | West Asia, Far East Asia, India, Africa |
| Astro Offshore revenue (April 2024) | $95 million |
| Astro Offshore EBITDA (April 2024) | $41 million |
| Purchase amount | $185 million |
| Promoters’ share in Astro | 20% |
| Stock closing price | ₹1,430.20 |
| Stock Dropped | 1.58% |
| 52-week low | ₹754.50 |
| 52-week high | ₹1,607.95 |
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