India’s Adani Ports acquires local harbour services company

India's Adani Ports and Special Economic Zone (APSEZ), through its subsidiary The Adani Harbour Services (TAHSL), has entered into a definitive agreement for the acquisition of the 100 per cent stake in Ocean Sparkle (OSL), a local third-party marine services provider.

Established in 1995, OSL gas an asset base of 94 owned vessels and 13 third-party owned vessels. Key activities carried out by the company include towage, pilotage, and dredging.

OSL will continue to operate under its present name. P Jairaj Kumar, the company's founding chairman and managing director, will continue to serve as chairman of the OSL Board.