APSEZL to complete 100 per cent stake in GPL

According to reports, Adani Ports and Special Economic Zone Limited (APSEZL) is expected to complete 100 per cent stake in Gangavaram Port Limited (GPL) acquisition during 2022-23. Currently, APSEZL holds 41.9 percent stake in GPL which is expected to handle more than double the current cargo at 66 million metric tonnes (mmt) by FY25. The Port handled 30 mmt cargo in FY22. The target for FY23 is to manage cargo volumes over 40 mmt. Currently, a new container facility of 0.8 million TEUs is under commissioning and is expected to complete by July 2022.