India’s Competition Commission of India has cleared the acquisition of certain ports and power infrastructure assets of Essar Group by AM/NS India. The deal covers port assets in Gujarat, Andhra Pradesh, and Odisha as well as two power plants at Hazira and an electricity transmission line.The proposed combination involves the acquisition of certain power assets of Essar Power Hazira & Gandhar Hazira Transmission. The port assets include Hazira Cargo Terminals, Ibrox Aviation & Trading, Essar Bulk Terminal, Essar Bulk Terminal Paradip and Essar Vizag Terminals. Other assets are Snow White Agencies & Bhagwat Steel. This acquisition is worth USD 2.4 billion.The deal covers a 25 million tonnes per annum capacity jetty at the all-weather, deep draft bulk port terminal at Hazira, Gujarat, captive and adjacent to the Hazira steel plant. It also includes a 16 million tonnes all-weather, deep draft terminal at Visakhapatnam, Andhra Pradesh, along with an integrated conveyor connected to AM/NS India’s 8 million tonnes a year iron ore pellet plant in the port city.The deal also covers a 12 million tonnes deep-water jetty at Paradip, Odisha, along with a dedicated conveyor that handles 100% of pellet shipments from AM/NS India’s Paradip pellet plant.It also includes a 270 MW multi-fuel power plant at Hazira, which has a long-term power purchase agreement with the adjacent steelmaking facility, a 515 MW gas-based power plant, and allied land.And so is a 100-kilometer Gandhar to Hazira transmission line, connecting AMNS India’s steelmaking complex with the central electricity grid.
India’s Competition Commission of India has cleared the acquisition of certain ports and power infrastructure assets of Essar Group by AM/NS India. The deal covers port assets in Gujarat, Andhra Pradesh, and Odisha as well as two power plants at Hazira and an electricity transmission line.The proposed combination involves the acquisition of certain power assets of Essar Power Hazira & Gandhar Hazira Transmission. The port assets include Hazira Cargo Terminals, Ibrox Aviation & Trading, Essar Bulk Terminal, Essar Bulk Terminal Paradip and Essar Vizag Terminals. Other assets are Snow White Agencies & Bhagwat Steel. This acquisition is worth USD 2.4 billion.The deal covers a 25 million tonnes per annum capacity jetty at the all-weather, deep draft bulk port terminal at Hazira, Gujarat, captive and adjacent to the Hazira steel plant. It also includes a 16 million tonnes all-weather, deep draft terminal at Visakhapatnam, Andhra Pradesh, along with an integrated conveyor connected to AM/NS India’s 8 million tonnes a year iron ore pellet plant in the port city.The deal also covers a 12 million tonnes deep-water jetty at Paradip, Odisha, along with a dedicated conveyor that handles 100% of pellet shipments from AM/NS India’s Paradip pellet plant.It also includes a 270 MW multi-fuel power plant at Hazira, which has a long-term power purchase agreement with the adjacent steelmaking facility, a 515 MW gas-based power plant, and allied land.And so is a 100-kilometer Gandhar to Hazira transmission line, connecting AMNS India’s steelmaking complex with the central electricity grid.
