ADANIPORTS paid Rs 2,800 crore for the 25% that completesits ownership to 100% and makes it the sole owner of the port.
This port is located on the east coast of India in Nelloredistrict of Andhra Pradesh. Its characteristics include being all-weather, deepport, multi-cargo facility. The current capacity of the port is 64 milliontonnes per annum (MTPA).
With a waterfront of 20 km and 6,800 acres of land, the porthas a master plan capacity of 300 MTPA and a 50-year concession.
In a statement, the company informed some valuation figures,“Together with the 75 per cent ownership acquired in October 2020, theacquisition implies an enterprise value of Rs 13,675 crore implying an EV/ FY21EBITDA multiple of 10.3x.”
The company elaborated on its plans, “We are confident thatwe will be able to double throughput and triple EBITDA at Krishnapatnam Port by2025. We are committed to making Krishnapatnam Port the gateway port for SouthAndhra Pradesh and Karnataka. With its large industrial land backed with the portwe will transform Krishnapatnam into a manufacturing and industrial hub.”
ADANIPORTS is the stakeholder in developing and operatingports which represents about one-fourth (24% to be exact) of India’s total portcapacity. Its ports handle huge amounts of cargo from coastal areas andhinterlands.