August 15, 2026 05:00 pm (IST)
Follow us:
Tata Steel, L&T IDPL divest their stake in Dhamra Port
Mumbai, May 16 (IBNS): L&T Infrastructure Development Projects Limited and Tata Steel Limited, on Friday announced that they have executed a definitive agreement with Adani Ports & Special Economic Zone to sell 100% stake in the Dhamra Port Company Limited for an Enterprise Value of around Rs 5,500 crore.
As per the agreement entered into amongst the parties, the transaction is subject to customary conditions precedent including lenders / third party approvals, the company said in a statement.
DPCL is a 50:50 joint venture between L&T IDPL and Tata Steel. The port was commissioned in May 2011 with an 18 km approach channel and a dedicated 62.7 km rail link to Bhadrak. In FY 2014, DPCL handled 14.3 mtpa of cargo.
As part of Tata Steel’s review of its investments portfolio, the Board of the company has approved the divestment of its equity holding in the JV at an attractive valuation.
To secure its long term requirement and access to a deep-water port for its operations in Jamshedpur and Odisha, Tata Steel has also entered into a long-term cargo handling arrangement with DPCL.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Emami’s big snack bet: ₹750 crore investment, new WeMe brand targets ₹1,000 crore in 3-5 years
Sat, Aug 15 2026
HCG Q1 results: Cancer care major posts 190% jump in adjusted profit, revenue rises 13%
Fri, Aug 14 2026
Big relief for Zee Entertainment: SAT allows warrants issue, dividend access despite SEBI ban
Fri, Aug 14 2026
Olectra Greentech Q1 shocker: Revenue soars 66%, profit barely moves; shares crash 4%
Fri, Aug 14 2026
Red Friday on Dalal Street: Sensex plunges 300 points, Nifty slides amid geopolitical tensions
Fri, Aug 14 2026
Tata Motors shares jump 6% after Q1 profit soars 83% to ₹2,560 crore
Thu, Aug 13 2026
RVNL posts strong Q1 numbers, but shares fall sharply
Thu, Aug 13 2026
Profit soars 39%, but Grasim stock crashes 3% after Q1 results
Thu, Aug 13 2026