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The Competition Commission of India (CCI) has approved the acquisition of Krishnapatnam Port Co. Ltd (KPCL) by Adani Ports and Special Economic Zone Ltd. The proposed combination envisages the acquisition of equity shareholding along with management control of KPCL by Adani Ports.
Adani Ports is a customer-facing integrated port infrastructure services provider currently present across 10 domestic ports in the 6 maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha. The acquirer will manage the logistics chain, i.e., from vessel management to anchorage, pilotage, tug pulling, berthing, goods handling, internal transport, storage and handling, processing and final evacuation by road or rail.
KPCL is engaged as a developer and operator of the deepwater port at Krishnapatnam, Andhra Pradesh, under the concession agreement on build-operate-share-transfer (BOT) basis with Govt of Andhra Pradesh for 30 years from the date of commercial operations and entitled for a further period of 20 years, implying two periods of 10 years each).