March 22, 2026 05:01 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
India hits 1 billion tonne coal milestone—Again!
Sat, Mar 21 2026
Charge_iN by Mahindra signs strategic agreement with HPCL to develop EV charging infrastructure at HPCL retail outlets
Fri, Mar 20 2026
Bank of Baroda becomes the first bank to launch credit line on UPI - OD facility for women SHG members
Fri, Mar 20 2026
₹10 lakh cover, free services & more: TVS Motor Company rolls out big benefits with King Ka Vaada 3.0
Fri, Mar 20 2026
Rupee hits record low, breaches 93 against US dollar for first time
Fri, Mar 20 2026
Market rebounds: Sensex jumps 900 pts, Nifty gains after rout
Fri, Mar 20 2026
How to Figure Out Your EMI for a ₹50 Lakh Home Loan
Thu, Mar 19 2026
HDFC Bank shares drop 8% as Atanu Chakraborty steps down as chairman
Thu, Mar 19 2026