The $6 billion Adani Group on Monday announced that Mundra Port and Special Economic Zone Ltd (MPSEZL) will now be known as “Adani Ports and Special Economic Zone Ltd (APSEZL).
The change in nomenclature became effective on January 6, a company spokesman said. The company has received the certificate from the Registrar of Companies, Gujarat, registering the change in name.
MPSEZL, the country's top multi-port operator and a subsidiary of the Group's flagship Adani Enterprises Ltd (AEL), was running the Mundra Port and had interests in many ports across the country and abroad.
The change in name has been necessitated due to change in the profile of business as well as the ownership of the company.
While, earlier, MPSEZL had only one operational port at Mundra, it now also operates ports at Dahej in Gujarat and at Abbot Point in Australia. The company is also developing ports at Hazira, Mormugao and Visakhapatnam in India.
“The rationale for renaming Mundra Port as Adani Port is to achieve the last mile brand synergy with the global port infrastructure business of the Group.
This change provides a strong encompassing identity to port business of Adani Group.” said Mr Gautam Adani, Chairman, Adani Group.
The new name is part of a strategy to align the company to the Adani brand and also to give it a singular identity within the Adani Group.
It also carries a global footprint with itself to draw international recognition of the Adani brand, the company said.
MPSEZL, which runs the private, multi-commodity port and SEZ, was originally incorporated as Gujarat Adani Port Ltd (GAPL) in 1998, which commenced commercial operations in October 2001.
Mundra SEZ Ltd was incorporated in November 2003 to set up an SEZ at Mundra.
It was merged with GAPL in April 2006 and the company was renamed as MPSEZL. Meanwhile, the Adani Group is also expected to sport a fresh logo and group identity soon in an image-makeover exercise.