Adani Ports and Special Economic Zone (APSEZ), India’s largest ports and logistics firm, has acquired an 80 percent stake in Astro, a leading offshore support vessel (OSV) operator. This acquisition, valued at $185 million (approximately Ksh.23.9 billion), gives APSEZ control over Astro’s fleet of 26 offshore support vessels, including anchor handling tugs, flat-top barges, multipurpose support units, and workboats.
Headquartered in Dubai, Astro also offers vessel management and related services, supporting the construction and maintenance of offshore platforms, oil and gas fields, and subsea facilities.
“Astro’s acquisition is part of our roadmap to becoming one of the world’s largest marine operators. Astro will add 26 OSVs to our current fleet of 142 tugs and dredgers, taking the total count to 168,” said Ashwani Gupta, the CEO of APSEZ.
“The acquisition will also give us access to an impressive roster of Tier-1 customers while further consolidating our footprint across the Arabian Gulf, the Indian subcontinent and the Far East Asia.”
APSEZ has confirmed that no regulatory approvals are needed for the transaction, which is anticipated to be completed within a month.
Founded by Indian billionaire Gautam Adani in 1988, the Adani Group is headquartered in Ahmedabad, India. The conglomerate comprises 10 companies with investments spanning mining, ports, trading, electricity, and gas.
According to Seatrade Maritime, Adani Group operates 15 ports and terminals across India and has development projects in Sri Lanka, Vietnam, Tanzania, and a contract for the Port of Haifa in Israel. In June, Adani International Ports Holdings (AIPH), a subsidiary of the group, signed a 30-year concession agreement with the Tanzania Ports Authority to manage Container Terminal 2 (CT2) at Dar es Salaam Port.
The group also owns Adani Airport Holdings Limited, which is involved in a controversial $1.85 billion (Ksh.242 billion) proposed investment to expand Nairobi’s Jomo Kenyatta International Airport (JKIA). Despite significant opposition from Kenyans and local aviation workers, the firm has proceeded with establishing a local entity, Airports Infrastructure PLC, as per filings with the National Stock Exchange of India.
In recent years, the Adani Group has faced controversy beyond Kenya, including allegations of fraud and market manipulation by an American investment research firm, as well as claims of political corruption, tax evasion, environmental damage, and legal actions against journalists. (1 USD = 129.19 Ksh)
