ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. - Updates

Adani Ports and Special Economic Zone Ltd has informed BSE that the Adani Ports (Adani) has entered into a nonbinding Memorandum of Understanding with L&T Shipbuilding Limited (L&T) for evaluating the operations of the port at Kattupalli, Tamil Nadu, with effect from October 2015 for a period of one month. The definitive agreements would be entered into later. While all non-operating revenues and expenses will be to L&T's account. Adani shall be responsible for EBIDTA gains and losses arising from the Port operation for this period, the shipyard will continue to be managed and operated by L&T.