With the Andhra Pradesh government supporting Adani Ports and Special Economic Zone Limited’s (APSEZ) proposition of procurement of 10.4 percent stake of Gangavaram Port Limited (GPL), the scene of sea transport is good to go to observe a change in Visakhapatnam. When the administrative endorsements are gotten for the securing, the Adani Group will have 100% stake in GPL in the eastern seaboard and the move is probably going to cut a piece of the freight traffic away from Visakhapatnam Port Trust (VPT).
Prior, the APSEZ consented to procure 58.1 percent stake in GPL from DVS Raju and family followed by 31.5 percent stake from Warburg Pincus. Nonetheless, the forceful promoting systems embraced by Adani Group, quicker turnaround time, serious valuing and appealing limits offered have a bigger degree for influencing the business volume of the VPT in future. With the Build-Operate-Transfer terminals of the Visakhapatnam Port like Vizag General Cargo Berth Private Ltd (VGCB) and Vizag Seaport Private Ltd (VSPL) previously being hit by the GPL, it may not take long for the APSEZ-controlled Gangavaram Port to tear apart an extensive lump of volume development from Visakha Container Terminal Private Ltd (VCTPL) also.