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Adani Ports sells 49% stake in Vizhinjam port to shipping major MSC's unit in $1.4 bn deal
Adani Ports will sell 49% stake in its Vizhinjam port to Mediterranean Shipping Co's unit for $1.4 billion. With a big capacity expansion on the cards, the partnership looks to increase traffic and improve logistics for the Indian port.
Adani Ports emerges top contender for Karanja Terminal takeover
Adani Ports is poised to acquire Karanja Terminal & Logistics, with creditors endorsing its ₹625-crore recovery plan. The nation's top port operator has offered full repayment to financial creditors for their outstanding dues. This development follows Prudent ARC's acquisition of nearly all of Karanja's debt, signaling a significant shift in the company's future.
Adani eyes Bengal ports, logistics opportunities as SMPK plans tourism push
Kolkata's Syama Prasad Mookerjee Port is set to get a river cruise terminal and museum, boosting tourism. The port aims to increase cargo handling significantly and is undertaking major infrastructure projects. Meanwhile, Adani Group is exploring substantial investments across West Bengal in various sectors, signaling a push for industrial growth and enhanced connectivity.
JSW Steel commences 13.2 MTPA Paradeep Integrated Steel Plant project
The Paradeep Integrated Steel Plant will be developed in phases with a planned capacity of 13.2 million tonnes per annum (MTPA) and an estimated investment of about Rs 65,000 crore in phases. Spread across nearly 2,950 acres, the project is strategically located on Odisha's coastline, offering strong port connectivity, efficient access to raw materials and robust logistics infrastructure to serve both domestic and international markets.
West Asia crisis hits stainless steel production; LPG shortages and logistics disruptions raise costs
The West Asia crisis and LPG shortages in India are affecting the domestic stainless steel industry, forcing companies to cut production and brace for higher costs. Manufacturers rely heavily on LPG and natural gas for key processes, and fuel constraints have led some plants to operate at reduced capacity.
Adani Ports, Aegis Vopak fall up to 6%; shipping, logistics stocks sink on Strait of Hormuz disruption fears
Among the sharpest losers in shipping and logistics stocks were Adani Ports and Special Economic Zone, Aegis Vopak Terminals and Essar Shipping, falling 5-6 percent each. The sell-off in logistics and port stocks comes as crude oil prices surged amid the Middle East conflict.
JSW Steel shares gain over 1% after launch of Rs 65,000 crore Odisha steel plant project
Spread across nearly 2,950 acres, the plant is strategically located on Odisha's coastline and is expected to benefit from port connectivity, logistics infrastructure and access to raw materials for domestic and export markets.