Ahmedabad based Adani group, is in plans to buy the export terminal of Odisha located Dhamra port. The Dhamra Port Co. Ltd (DPCL) had mandated Kotak Investment Banking to find a buyer for the export terminal in which both Adani Ports and Special Economic Zone Ltd., had shown interest. Adani group is expected to sign the deal that will enable it to strengthen its presence on the east coast, besides boosting its commodity trading business.
The port has been lying mostly idle since it initiated operations in September due to the recent increase in export duty and rail freight rate. Using a sub-lease agreement, the sale of the export terminal will be structured whereby the investor will have to pay some upfront money and share a portion of the annual revenues with DPCL. This deal is thus expected to benefit both Adani and the port.
Source: livemint