IndusVoice - Buzz & Insights from the Shipping Industry

On May 16, 2014—the day Narendra Modi was elected as India’s new prime minister—Adani Ports and Special Economic Zone acquired Dhamra port, a joint venture between the Tata group and Larsen & Toubro, for Rs5,500 crore ($930 million) and stepped up its play on the east coast.The company—controlled by India’s eighth richest man Gautam Adani—already operates India’s biggest private port on the west coast at Mundra in Gujarat.Now, Adani is reportedly making plans to buy Essar Ports—India’s second biggest port operator—which will make it the biggest port operator in India after the union government.

Adani’s big play in ports also comes at a time when India’s port and shipyard sector is witnessing a renewed interest from Indian and global investors—and a lot of it has to do with prime minister Modi.

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