Terminal Investment Limited acquires 49% stake in Adani terminal near Chennai

Terminal Investment Limited (TiL) has acquired a 49% stake in Adani Ennore Container Terminal (AECTPL) for an equity consideration of Rs 247 crore (US$30m), as it looks to build its strength in the south Indian market.

Located on India’s east coast 30 km north of Chennai, AECTPL has a quay length of 400 m and an annual handling capacity of 800,000 teu, handling 450,000 teu in the first eight months of the current fiscal year.

The second joint venture between TiL and Adani follows the deal for Adani International Container Terminal (AICTPL), which was established in 2013 and operates CT3 Container Terminal at Mundra Port.