News Details :
News Details:
Headline : Adani Group takes over port near Chennai
Summary : CHENNAI: Adani Ports and Larsen & Toubro (L&T) on Saturday inked a pact to oversee operations of Kattupalli Port, 30km north of Chennai port.

"Adani Ports has entered into a non-binding MoU with L&T Shipbuilding (L&T) for evaluating the operations of the port at Kattupalli, with effect from October 2015 for one month," Adani Ports and Special Economic Zone (APSEZ) said in a filing to BSE.

It added that definitive agreements would be entered into later. "Adani shall be responsible for EBIDTA gains and losses arising from the port operation for this period," the filing said.