Karaikal Port Private
India's Largest Private Port to Handle large Vessels and Diverse Cargo Mix.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | $181m Valuation: $181m | Acquisition | |
| Total Funding | 000k | ||
Karaikal Port Private Limited (KPPL) operates an all-weather, deep-water port located on the eastern coast of India in the Karaikal district of Puducherry. The company was incorporated on February 15, 2006, as part of a public-private partnership with the Government of Puducherry. The port was initially developed by the Chennai-based MARG Limited, which signed the 30-year concession agreement in 2006 on a Build, Operate, and Transfer (BOT) basis. Construction began in 2007, and the port officially commenced operations in April 2009.
After facing financial difficulties and defaulting on loans, the port underwent a Corporate Insolvency Resolution Process (CIRP). In a significant milestone, Adani Ports and Special Economic Zone Ltd (APSEZ) acquired KPPL in April 2023 for ₹1,485 crores through the insolvency process, making it the 14th port in APSEZ's network. This acquisition is part of APSEZ's strategy to become India's largest transport utility.
The port's business model is centered on providing comprehensive maritime gateway services. Revenue is generated from port operation services, which include cargo handling, storage, and rail infrastructure services, recognized as services are rendered. As per the concession agreement, the company pays the government a percentage of its gross income and land lease charges. Strategically positioned between the major ports of Chennai and Tuticorin, Karaikal Port serves the industrial hinterland of Central Tamil Nadu.
Covering over 600 acres, the port features five operational berths, a water depth of 14 meters, three railway sidings, and mechanized cargo handling systems. It is equipped to handle a diverse range of cargo, including dry bulk (coal, cement, fertilizer, limestone), breakbulk, and liquid cargo, with a current capacity of 21.5 million metric tonnes per annum (MMTPA). In FY23, the port handled approximately 10 million tonnes of cargo. Following the acquisition, APSEZ announced plans to invest a further ₹850 crores to upgrade infrastructure, with a goal of doubling the port's capacity and adding a container terminal within five years.
Keywords: maritime gateway, port operations, cargo handling, logistics infrastructure, bulk cargo, liquid cargo, container terminal, Adani Ports, APSEZ, Karaikal, Puducherry, east coast India, deep-water port, public-private partnership, BOT model, freight services, industrial logistics, marine terminal, supply chain solutions, transport utility