World’s Biggest Container Shipping Line Acquires 49% Stake In Adani’s Ennore Terminal

Adani Ports and Special Economic Zone Ltd (abbreviated the APSEZ) announced on Friday that it was entering a second strategic partnership for the seamless operation of Adani Ennore Container Terminal Pvt Ltd (popular as the AECTPL) with Mediterranean Shipping Company’s (the MSC) arm, Terminal Investment Limited (abbreviated TiL).

TiL is an MSC associate, while the latter is the world’s greatest container shipping line. The company is poised to purchase a whopping 49% stake in the AECTPL from the APSEZ via a subsidiary named Mundi Ltd for Rs 247 crore.

This is the companies’ second joint venture, following the 2013 JV with TiL for the Adani International Container Terminal Pvt Ltd (abbreviated the AICTPL), which manages CT3 Container Terminal based at Mundra Port, the country’s biggest private commercial port.

Reference: The Industry Insight

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