The Gautam Adani-led company has set a target of exceeding 200 MT of cargo handling by 2020 at an investment of Rs 9,000 crore, but it is likely to achieve it by 2018.
Adani Ports is keen to complete its own ‘Sagarmala’ dream by having presence in the three key states of Maharashtra, Karnataka and Andhra Pradesh, apart from setting up trans-shipment terminals in Southeast Asia and East Africa, a top company official said.
Adani Group, which began work on its first international trans-shipment container port at Vizhinjam near here yesterday, now operates nine ports which would have an installed capacity of 490 million tonnes (MT) by the next fiscal. With this, the Adani Ports and Special Economic Zone (APSEZ) becomes the country’s largest ports operator in the private sector.
The Gautam Adani-led company would be closing the year with having handled 144 MT cargo out of its present installed capacity of 390 MT.
The company has set a target of exceeding 200 MT of cargo handling by 2020 at an investment of Rs 9,000 crore, but it is likely to achieve it by 2018.
“Our focus will be having presence in these three states of Maharashtra, Karnataka and Andhra Pradesh, so that our nine ports are better served and our own ‘Sagarmala’ plan is fulfilled.
“We are also keen to have trans-shipment terminals in Southeast Asia, especially in Myanmar and Bangladesh, and also in East Africa, so that these facilities can serve the upcoming Vizhinjam facility, which can compete on cost with the Colombo and Singapore ports, which handle more than 80 per cent of the country’s international trade,” Karan Adani, Executive Director of the APSEZ and son of group Chairman Gautam Adani, told PTI here.
The government has embarked on an ambitious project of port development across the country’s over 7,000-km-long coastline and named it as the ‘Sagarmala Project’, for which it has committed Rs 70,000 crore in investments.
On the poor performance of the Vallarpadam trans-shipment terminal, which is the country’s first such facility, Adani said, “If you charge more than double the rates at Colombo (120 per cent more), what do you expect?”