Gangavaram Port
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Gangavaram Port in Visakhapatnam, Andhra Pradesh is the deepest all-weather port in India.[1]
Among its nine berths - with a total cargo-handling capacity of 62 to 64 million tonnes per annum (mtpa) - there are two fully mechanized coal berths[2] with a combined annual coal capacity of 20 mtpa. Adani Ports and Special Economic Zones (APSEZ) purchased full ownership of the port in 2021.
Location
The port is located in the south of Visakhapatnam, along the Bay of Bengal.
Background
Officially inaugurated in July 2009 with five berths, it has a depth of 21 meters and is managed by Gangavaram Port Ltd[3][4], a consortium originally owned by the DVS Raju Group (58%), global private equity firm Warburg Pincus (32%) and the Andhra Pradesh Government (10%).[5]
Phase I of the Gangavaram Port Project was completed in 2008. In 2009 Gangavaram became the first Indian port to receive a fully loaded capesize coal import vessel.[6][7][8]
In 2011 it was reported that coal accounted for 70 percent of the port's total traffic – 10 million tonnes out of a total of 14 mt in the years 2010-2011.[9]
The biggest customer of coking coal at Gangavaram is the State-owned Vizag Steel Plant, which is directly connected to the port through conveyors.[10]
Expansion
As of 2013, four new berths were under construction at Gangavaram Port, including a fully-mechanized coal terminal capable of receiving capesize vessels up to 200,000 dwt. When complete, the expansion project was expected to increase the port's overall capacity from 17 million to over 40 million tonnes,[11][12] with coal handling capacity rising from approximately 10 million to 20 million tonnes.[9]
In May 2016, Gangavaram Port announced that it had completed its Phase II expansion, including four new berths (three multipurpose berths and one fully mechanised coal terminal), facilities for handling multi-purpose cargo and Panamax vessels up to 200,000 DWT, additional rail sidings, ancillary civil work and stock yards. Completion of Phase II brought the total number of berths to nine and increased the port's cargo handling capacity to 64 million tonnes per annum (mtpa). The port reported that it had handled 19.5 million tonnes of cargo during 2015-16, 20.74 million tonnes during 2014-15, and 15.18 million tonnes during 2013-14.[13]
Ownership
In July 2015 it was reported that Adani Ports & Special Economic Zone Ltd (APSEZ) of Adani Group had entered into exclusive talks to acquire Gangavaram Port for US$2.1 billion.[14] However, in September 2015 APSEZ took over cargo-handling at the Kattupalli Port from Larsen and Toubro Ltd (L&T), and said it planned to add a 20 million tonne (mt) capacity coal terminal at the port. Live Mint said the deal suggested APSEZ has lost interest in talks for buying Gangavaram Port.[15]
In October 2017, Warburg Pincus reportedly entered into talks with UAE ports operator DP World to sell its 31.5% stake in Gangavaram Port.[1]
In March 2021, Adani Ports and Special Economic Zones (APSEZ) acquired a minority stake of 31.5% in Gangavaram Port from Windy Lakeside Investment, an affiliate of Warburg Pincus, for ₹19.54 billion (US$268 million).[16] Several weeks later, Adani purchased D.V.S Raju's 58.1% stake in the port for ₹36 billion (US$494 million), bringing its total ownership share up to 89.6%.[17] In August 2021, Adani received approval to purchase the remaining 10.4% stake owned by the government of Andhra Pradesh for ₹6.45 billion (US$88 million), thereby gaining full ownership of the Gangavaram Port.[18]
Project Details
- Operator: Gangavaram Port Ltd.
- Location: Visakhapatnam, Andhra Pradesh, India
- Original Coal Capacity (million tonnes per annum): 10
- Additional Coal Capacity Added in Phase Two Expansion (mtpa): 10
- Status: Operating
- Projected in service:
- Coal source:
- Cost of expansion: Rs 13 billion
- Financing for expansion:
Articles and Resources
Sources
- ↑ 1.0 1.1 "Warburg Pincus in talks with DP World to sell stake in Gangavaram Port," Live Mint, October 30, 2017
- ↑ "Facilities," Port Gangavaram website, accessed February 2018
- ↑ "CM to inaugurate Gangavaram port". The Hindu Business Line. 11 July 2009. Retrieved 2009-07-13.
- ↑ "CM inaugurates Gangavaram Port". Business Standard. 13 July 2009. Retrieved 2009-07-13.
- ↑ "About the Port" Port Gangavaram website, accessed January 2015.
- ↑ "India: Gangavaram Port Achieves Milestone by Handling 100th Cape-Size Vessel" World Maritime News, January 7, 2013.
- ↑ "Chinamax ships seen carrying India coal in few years" Reuters, March 9, 2011.
- ↑ "How low-draft Kandla port manages to handle biggest of dry bulk ships" LiveMint, November 28, 2013.
- ↑ 9.0 9.1 "Gangavaram port plans to shift away from coal" The Hindu Business Line, accessed October 10, 2011.
- ↑ P Manoj, Vizag Port jittery as Adani takes over nearby Gangavaram Port, Business Line, Sep. 23, 2021
- ↑ "Gangavaram Port to have second mechanised coal terminal" The Hindu, August 18, 2013.
- ↑ "Gangavaram Port expansion cleared" Projects Today, November 1, 2014.
- ↑ "Gangavaram Port on Growth Path," The Hindu, May 9, 2016
- ↑ "Adani in talks to acquire Gangavaram Port for $2.1b," The Times of India, July 15, 2015
- ↑ "Adani set to sign deal with L&T to manage Kattupalli port," livemint.com, Sep 25, 2015
- ↑ APSEZ to acquire minor stake in India’s Gangavaram Port for $268m, Ship Technology, Mar. 4, 2021
- ↑ Adani Ports to buy 58% stake in Gangavaram Port, Business Today, Mar. 23, 2021
- ↑ Nishant Sharma, Adani Ports Completes Acquisition Of 10.4% Stake In Gangavaram Port, Bloomberg, Sep. 22, 2021
Related GEM.wiki articles
External Articles
Wikipedia also has an article on Gangavaram Port. This article may use content from the Wikipedia article under the terms of the GFDL.
