Raipur Desk: Adani Group has made another major move in the ports business. Adani Ports has struck a deal worth approximately $1.4 billion with Terminal Investment Limited (TiL), a subsidiary of Swiss shipping giant MSC Group, to sell a 49 percent stake in its Vizhinjam transshipment port.

Following this significant announcement, the market also saw an impact, with Adani Ports shares jumping more than 1% to reach around ₹1,798. Investors viewed the deal as a major strategic move for the company.

Under the deal, TIL will acquire a 49 percent stake in Adani Vizhinjam Port Private Limited. However, Adani Ports will retain a 51 percent stake, ensuring the company retains control and operation of the port.

According to the company, the total investment of $1.397 billion will be made in two phases. $539 million will be paid in the first phase, while the remaining $858 million will be invested by December 2028, after the port expansion project is completed

Based on this transaction, the total enterprise value of Vizhinjam Port is estimated at approximately $2.85 billion. However, the final completion of the deal will be subject to all regulatory approvals.

Adani Ports CEO Ashwani Gupta said the partnership with MSC will strengthen India's global trade connectivity and make international supply chains more efficient.

Vizhinjam Port is India's first deep-draft mega transshipment port, scheduled to open in December 2024. Its current capacity is 1.6 million TEUs, with plans to expand to 5.7 million TEUs by 2028.