TiL, the investing arm of MSC buys 49% stake in Adani Ennore Container Terminal for Rs 247cr

Adani Ports and Special Economic Zone Ltd (APSEZ), said it had entered into a second agreement with Terminal Investment Ltd (TiL), the container terminal operating and investing arm of container shipping line MSC, for the operation of Adani Ennore Container Terminal Pvt Ltd (AECTPL). 

Ammar Kanaan, CEO, Terminal Investment adds: “We are highly pleased to strengthen our partnership with APSEZ, India’s largest private sector port operator. This association will enable us to further improve TiL’s presence in one of the world’s fastest growing economies and strengthen our offering to customers in the Indian subcontinent.”

Terminal Investment, through its fully-owned subsidiary Mundi, will acquire a 49 percent shareholding of Adani Ennore Container Terminal from APSEZ for Rs 247 crore. The total enterprise value of Adani Ennore Container Terminal is Rs 1,211 crore, the release added.

Located on India’s east coast, Adani Ennore Container Terminal has a quay length of 400 metres and an annual handling capacity of 0.8 million TEUs. The terminal handled 0.55 million TEUs in FY23 and 0.45 million TEUs in the first eight months of the current fiscal year. The concession period of the terminal is until 2044, and its annual capacity can be increased to 1.4 million TEUs, the release added.