L&T Inks Pact To Sell Kattupalli Port To Adani Group

09 November, Mumbai

Engineering Major, Larsen & Toubro has entered into an in-principle agreement with Adani Group to sell Kattupalli Port in Tamil Nadu.

The port is being sold to Adani Kattupalli Pvt Ltd (AKPPL), asubsidiary of Adani Ports and Special Economic Zone.

Currently, L&T operates both the port and shipyard through its
subsidiary, L&T Shipbuilding Ltd. The strategic sale is subject toreceiving the necessary approvals from the Government of Tamil Naduand the Centre, and the port being demerged from LTSB.

Kattupalli is a deep-water all-weather port with an international
container terminal located 35 km from Chennai, Tamil Nadu, and iswell connected to the hinterland.

The port commenced commercial operations in January 2013. It hastwo berths with a total quay length of about 710 metres and is
equipped to handle containers with an installed capacity of 1.2million TEUs per annum.