The Competition Commission of India (CCI) has approved acquisition of 89.6 percent of equity shareholding of Gangavaram Port (GPL) by Adani Ports and Special Economic Zones (APSEZ) under Section 31(1) of the Competition Act 2002 on 13 April 2021.
The proposed combination relates to the acquisition of 89.6 percent of the shareholding in GPL (i.e. the entity operating Gangavaram Port) by APSEZ.
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.
APSEZ manages complete logistics chain i.e. from vessels management to anchorage, pilotage, tug pulling, berthing, goods handling internal transport, storage and handling, processing and final evacuation by road or rail.
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 (BOOT) basis with the government of Andhra Pradesh for a concession period of 30 years from the date of commercial operations and entitled for a further period of 20 years (two periods of 10 years each).