Adani Ports has announced that it will acquire a 58% stake in Gangavaram Port for Rs 60,604 crore. Adani Ports said that it was acquiring a 31.5% stake in Warburg Pincus in GPL.
Now, the speculations are rife that the Adani group is aiming to grab the Vishaka steel plant too. As per the reports, recently, a delegation from the Adani group visited the Vizag Steel plant after coming to an agreement with the Union Ministry of Steel.
The main aim of establishing Gangavaram port in Vizag near the Steel plant is to import raw materials like iron ore, coal, etc. According to the sources, after acquiring the Gangavaram port, the Adani group is planning to take over the Vishakapatnam Steel plant
