Adani Ports pays Rs 1,050 crore for a 49.38% stake in Indian Oil tanking

  • 10-Nov-2022
  • Adani Ports pays Rs 1,050 crore for a 49.38% stake in Indian Oil tanking


On Wednesday, Adani Ports and Special Economic Zone (APSEZ) said that it had paid Rs 1,050 crore to purchase a 49.38% share in Indian Oil tanking, a developer and operator of liquid storage facilities.

India's largest private port and logistics enterprise is APSEZ, the Adani group's flagship transportation division. The developer and operator of liquid storage facilities, Indian Oil tanking, announced on Wednesday that Adani Ports and Special Economic Zone (APSEZ) had paid Rs 1,050 crore to acquire a 49.38% stake in the company.

The flagship transportation division of the Adani group, APSEZ, is India's largest private port and Logistics Company. For those who are unaware, Indian oil tanking has spent the previous 26 years creating a network of six terminals spread over five states. 

The overall storage capacity for both crude and refined petroleum products is 2.4 million kilolitres (KL). This applies to both owned and construct, own, operate, and transfer (BOOT) model facilities.

According to the firm, the owned facilities include the Navghar terminal in Maharashtra, the Raipur terminal in Chhattisgarh, and the Goa terminal. This has a 0.5 million KL capacity. On the other hand, BOOT capacity totals 1.9 million KT, according to APSEZ.

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