Ahmedabad, Feb 16 (TIWN) Adani Ports and Special Economic Zone Ltd on Tuesday informed that it has completed the acquisition of 100 per cent in Dighi Port Limited (DPL) for Rs 705 crore on February 15.

With the acquisition, DPL has become the 12th port to join APSEZ's string of economic gateways across the eastern and western coast of India and would establish the company's footprint in Maharashtra. This would enable APSEZ to service customers in the state, including the highly industrialised areas in the Mumbai and Pune regions, the company said in a statement.  APSEZ plans to invest over Rs 10,000 crore to develop the port into a multi-cargo port with world class infrastructure as well as investing in the development of rail and road evacuation infrastructure for seamless cargo movement. The company will also use the investment to strengthen and repair existing infrastructure and for development of facilities for dry, container, and liquid cargo.  Adani Ports said that DPL will evolve as an alternative gateway to the JNPT and will invite and support the development of port-based industries on port land.  It is expected that the development of DPL will lead to further investments across various industries such as consumer appliances, metals, energy, petrochemicals, and chemicals business in Maharashtra and provide a fillip to the industrial development and growth in Maharashtra.