Acquisition of Krishnapatnam Port Company Limited (KPCL) by Adani Ports and Special Economic Zone Limited (Adani Ports) has been approved by the Competition Commission of India (CCI). According to the proposed combination, Adani Ports will acquire equity shareholding along with management control of KPCL.
Adani Ports is a customer-facing integrated port infrastructure services provider and manages the logistics chain. The company is currently presented in ten domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.
KPCL operates the deep water port at Krishnapatnam, Andhra Pradesh, as per the the concession agreement on Build-Operate-Share-Transfer basis with Government of Andhra Pradesh for a period of thirty years from the date of commercial operations. It is also entitled for a further period of 20 years.
Important takeaways for all competitive exams:
- Chairperson of Competition Commission of India: Ashok Kumar Gupta.