APSEZL incorporates Adani Bhavanapadu Port Private Limited for development of Bhavanapadu port

Adani Ports and Special Economic Zone Limited (APSEZL) has incorporated a wholly owned subsidiary, Adani Bhavanapadu Port Private Limited, for the development of the Bhavanapadu greenfield port. The subsidiary has an authorised share capital and a paid-up share capital of Rs 500,000 each. APSEZL is implementing the project, which is estimated to entail an investment of Rs 35 billion, on a design-build-finance-operate-transfer basis with Infrastructure Corporation of Andhra Pradesh Limited as the concessioning authority.