Adani Ports & Special Economic Zone is set to buy 58.1% stake in Gangavaram Port Ltd in Andhra Pradesh held by DVS Raju and family, the original promoters of the port, for INR 3,600 crore. The deep-water port has capacity to handle 64 mn t of cargo. With the deal going through, Adani’s share in Gangavaram Port will rise to 89%. The deal expands Adani’s port market share to 30% across 12 locations in the country.
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