Gangavaram Port Clarifies No Stake Sale
The management of Gangavaram Port today clarified that the news of Mundra Port and Special Economic Zone Limited (MPSEZ) promoted by Adani Group, buying a stake in Gangavaram Port is untrue and baseless.
Tweet-- They have categorically expressed that there has been no discussions of any nature, whatsoever with the Mundra Port and that there is no equity stake sale proposed or envisaged by any of the shareholders of Gangavaram Port.
Notes to Editor
About Gangavaram Port:
Gangavaram Port is a public private initiative by the Government of Andhra Pradesh. Strategically located in Visakhapatnam, Gangavaram Port is the deepest and the most modern port in India with all weather round the year operations. The Port's state of the art highly mechanized cargo handling equipments will result in efficiency of operations and substantial savings to importers and exporters. Gangavaram Port is the only port in the country that has the infrastructure to handle the largest bulk cargo vessels of upto 200,000dwt i.e. the Capesize vessels. Gangavaram Port has the unique distinction of being the only Greenfield port project to be completed in such a short span of time.