The Competition Commission of India (CCI) approves acquisition of 89.6% of equity shareholding of Gangavaram Port Limited (“GPL”) by Adani Ports and Special Economic Zones Limited (“APSEZ”) under the Competition Act, 2002.
About:
APSEZ is an integrated port infrastructure services provider currently present across 11 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
GPL is engaged to own, develop and operate the deep-water port at Gangavaram, Andhra Pradesh, pursuant to a concession agreement on Build-Own-Operate-Transfer basis with Government of Andhra Pradesh for a concession period of thirty years from the date of commercial operations and entitled for a further period of 20 years.
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