MUMBAI: Adani Ports and Special Economic Zone announced on Friday its plan to acquire a majority stake in an offshore support vessel operator for $185 million, marking a strategic move to expand its fleet and diversify beyond traditional port operations.
The company will acquire an 80 per cent stake in Astro Offshore, which operates a fleet of 26 vessels, including barges and workboats, with prominent clients such as miner NMDC and construction giant Larsen and Toubro.
142 tugs and dredgers
“Astro will enhance our existing fleet of 142 tugs and dredgers, while also providing us with access to a distinguished list of tier-1 customers,” said Adani Ports CEO Ashwani Gupta in a statement.
The acquisition aligns with Adani Ports’ strategy to extend its reach beyond its core port operations, strengthening its position as India’s leading private port operator amidst growing competition from smaller players like JSW Infrastructure and Gujarat Pipavav.
Adani Ports expects the acquisition to be finalized within a month, with no need for regulatory approvals.
