January 30, 2026 01:41 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
Vedanta shares plunge 8% amid metals sell-off despite record Q3
Fri, Jan 30 2026
ITC posts 9.9% rise in Q3 profit, announces ₹6.50 interim dividend; flags tax hike risks to cigarette volumes
Fri, Jan 30 2026
Caught in tech crossfire? Economic survey flags risks for India as US-China rivalry deepens
Thu, Jan 29 2026
Star Health posts staggering 414% profit jump! retail premiums soar, cementing India’s health insurance leadership
Thu, Jan 29 2026