CCI approved acquisition of Gangavaram port by Adani Ports

The Competition Commission of India (CCI) has approved billionaire Gautam Adani-controlled Adani Ports and Special Economic Zones Ltd’s acquisition of 89.6% stake in Gangavaram Port Ltd.

Daily Current Affairs Quiz 2021

APSEZ is an integrated port infrastructure services provider currently present across 11 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha.

GPL is engaged to own, develop and operate the deep-water port at Gangavaram, Andhra Pradesh, pursuant to a concession agreement on Build-Own-Operate-Transfer basis with Government of Andhra Pradesh for a concession period of thirty years from the date of commercial operations and entitled for a further period of 20 years.