Adani Ports and SEZ (APSEZ) is likely to acquire Dhamra Port from the existing owners, Tata Steel and Larsen & Toubro, by June 2014.

The acquisition is expected to be valued at Rs 7,000 crore. However, the exact evaluation will be based on the existing and potential business and future expansion.

Earlier, the Adani Ports and SEZ was expected to acquire the port by March 2014, but uncertainties in the market forced the company to wait and watch for a few more months. Adani Ports and SEZ is already working as a management consultant for the expansion project of Dhamra Port.

The expansion project at Bhadrak in Orissa received environmental clearance from the Ministry of Environment & Forests in January 2014. The project envisages expansion of the port's capacity to 100 million tpa from the existing 25 million tpa.

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