Speaking to CNBC-TV18, DK Vyas, CEO of SREI Infra, said the acquisition would be part of efforts to recover its loan from Sterlite Port, which is promoted by Sandesara Group, and developing the greenfield port.
The third phase expansion would entail raising cargo handling capacity from 11.7 million metric tonnes per annum (MMTPA) to 23 MMTPA besides development of additional area to store coal, back up equipment's, coal storage silo at railway siding and other supporting infrastructure.
High foreign currency debt is not a major concern for Adani Ports as it has a natural hedge due to marine and container income.