MSC, World's Largest Shipping Line, Acquires 49 Per Cent Stake in Adani's Ennore Container Terminal Near Chennai

Adani Ports and Special Economic Zone Limited (APSEZ), has entered into a second strategic partnership with Terminal Investment Limited (TiL), an associate of Mediterranean Shipping Company (MSC), the world’s largest container shipping line, for the operation of Adani Ennore Container Terminal Private Limited (AECTPL). 

Terminal Investment Limited, through its fully owned subsidiary Mundi Limited, will acquire a 49 per cent stake of AECTPL from Adani Ports for a consideration of Rs 247 crore. The transaction, subject to regulatory approvals, will see the APSEZ stake decrease to 51 per cent in AECTPL.

Earlier in 2013, TiL had joined hands with Adani, India's largest private port operator, to form Adani International Container Terminal Private Limited (AICTPL), which operates CT3 container terminal at Mundra Port, the largest private commercial port in India located in Gujarat.

Located 30 km north of Chennai Port, the Adani Ennore Container Terminal strategically offers round-the-clock congestion-free approach roads for seamless cargo movement to Bengaluru presenting deep hinterland reach.

In 2014, APSEZ won the rights to build the 1.4 million twenty foot equivalent units (TEUs) — capacity container terminal at Kamarajar Port Limited, after placing a revenue share of 37 percent. As per the concession agreement, Adani will operate the terminal until 2044.

The terminal with a quay length of 400 metres, has currently an annual handling capacity of 8 lakh TEUs, which will be extended to 1.4 Million TEUs in the second phase.