Adani Ports and Special Economic Zone Share price

We were incorporated as Gujarat Adani Port Limited on May 26 1998and commenced phased operations at Mundra Port in October 1998 with commercial operations beginning in October 2001. We were initiallypromoted by Adani Port Limited and Gujarat Port Infrastructure Development Company Limited an undertaking of the Government of Gujarat.We entered into a Concession Agreement with the GMB and the Governmentof Gujarat on February 172001 pursuant to which we have been granted the right to develop and operate Mundra Port located at the Navinal Island in the Kutchregion for a period of 30 years.Pursuant to an order of the High Court of Gujarat Adani Port Limited mergedwith us with effect from April 1 2003. Further MSEZ and ACL were mergedwith us with effect from April 1 2006.We received approval as a developer ofa multi-product SEZ at Mundra and the surrounding areas from theGovernment of India on April 12 2006. We have already received notificationfrom the Government of India with respect to land covering 2406.8 hectares(approximately 5947 acres) on June 23 2006.Notification is granted onlyonce land is in the possession of a developer and as we further acquire land inand around Mundra we will look to receive additional notifications in relationto such further acquired land.In order to reflect the significance of the SEZ status and the changing natureof our business we changed our name from Gujarat Adani Port Limited to Mundra Port and Special Economic Zone Limited with effect from July 7 2006.Key Events and MilestonesYear Month Key Events and Milestones1994 January Approval from GMB to set up captive jetty1998 October Berths 1 and 2 become operational1999 October Berths 3 and 4 become operational2001 February Concession Agreement signed with GMB2001 October All 4 berths and mechanisation become fully operational. Trial rail operations commenced2002 May Agreements signed with GGSRL to set up SPM2002 October Agreements signed with IOC to set up SPM2002 November Railway agreements signed.2003 January Sub-concession agreement signed with MICT for the container terminal2003 July Container terminal becomes operational2004 April Shareholders agreement with Kutch Railway Company Limited2005 June Merger of Adani Port Limited (with effect from April 1 2003) with us2005 December SPM becomes operational2006 April Notification as a SEZ2006 May Additional 10 bulk berths operational2006 June Double stack train operations2006 April Merger of MSEZ and ACL with us