MSC Unit’s Strategic Investment in Adani’s Boxing Terminal at Kamarajar Port

Terminal Investment Ltd, a subsidiary of Mundi Ltd, acquired a 49% stake in the Adani Ennore Container Terminal Pvt Ltd from APSEZ for Rs 247 crore, valuing the terminal at Rs 1,211 crore. The deal received security clearance from the government, allowing Kamarajar Port Ltd to complete the formalities for the share transfer according to the concession agreement.

This transaction strengthens the partnership between APSEZ and MSC, who jointly operate the Adani International Container Terminal Pvt Ltd at Mundra Port. APSEZ had won the rights to build and operate a container terminal at Kamarajar Port in 2014 with a capacity of 1.4 million TEU for 30 years, achieving a revenue share of 37%. The Adani Ennore Container Terminal currently has an 8 lakh TEU capacity, handling 6,71,393 TEUs in FY24 and 5,50,000 TEUs in FY23.

The government’s security clearance for the share purchase by Terminal Investment Ltd paves the way for the strengthening of the strategic partnership between APSEZ and MSC. This acquisition further solidifies APSEZ’s position in the container terminal market, with significant operations at key ports in India, such as Mundra Port in Gujarat and Kamarajar Port in Tamil Nadu.

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