Govt nod to Adani Krishnapatnam Port for petro import in 'public interest'

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Govt nod to Adani Krishnapatnam Port for petro import in 'public interest' - Business Standard

Quick Summary:

In April 2021, APSEZ purchased the remaining 25 per cent stake from Vishwa Samudra Holdings for Rs 2,800 crore, thereby gaining full ownership of the port.

India continues to depend on the import of crude oil to meet industry demand despite efforts by the government to boost domestic production.

The Krishnapatnam Port in Andhra Pradesh is run by Adani Group.(Photo credit: adaniports.