India's largest port company Adani Ports and Special Economic Zone Ltd (APSEZ) is set to sign an agreement with Larsen and Toubro (L&T) to take over operation and management (O&M) of the Kattupalli port at Ennore in Tamil Nadu. L&T holds 97 percent stake in Kattupalli International Container Terminal, a port-cum naval shipyard complex developed jointly with state government entity TIDCO, which holds the remaining stake. However, L&T will continue to run the shipyard, which will not be part of the O&M deal. Kattupalli can handle 1.2 million twenty-foot equivalent units (TEUs) a year. In an interview, L&T's group executive chairman AM Naik said that the company will 'hopefully finalise the deal in some time'. He added that the L&T wants to cut out assets, such as those in the port sector, that are not its specialty.