New Delhi [India], February 15 (ANI): Adani Ports & SEZ Limited (APSEZ), which reported a 22 per cent growth in cargo volume during the first nine months of the current financial year, on Tuesday announced that it has outlined plans to develop a country-wide network and infrastructure, especially in the hinterland.
The company has outlined its expansion plans on the lines of ‘Maritime India Vision – 2030’. The Vision document has proposed an investment of over Rs 3 lakh crore, which would generate more than 20 lakh jobs and unlock annual revenue potential for major ports worth over Rs 20,000 crore.
The policymakers estimated that the development of Indian ports alone will lead to annual cost savings of about Rs 7,000 crore for foreign traders. The potential for mega capacity ports has been identified particularly in Gujarat, Maharashtra, Odisha and West Bengal.
“APSEZ’s evolution as a transport utility with an integrated mix of logistical capabilities is in line with the PM Gati Shakti – National Master Plan and has far-reaching benefits. Providing end-to-end logistics solutions in transparent and efficient manner creates a unique value proposition for the customers and contributes to the Company’s distinctive positioning as a trusted brand,” Karan Adani, CEO and Whole Time Director of APSEZ, said in a statement.
“Most importantly, the presence of comprehensive supply chain solution provider strengthens the country’s supply-chain structure, enhancing trade competitiveness,” Adani added.
The rise of APSEZ holds significant value for the Indian Maritime Sector. It is the largest player in the country, handling close to 30 per cent of the country’s total cargo across its 12 operating ports. The company’s approach is a departure from the earlier method of port operators focusing only on core operations while outsourcing in-land logistics to other players.
APSEZ reported a 22 per cent growth in total cargo volume at 212 MMT. With this development, APSEZ’s market share in all India cargo handling volume increased by 350 basis points to more than 28 per cent.
APSEZ has been investing in logistics and warehousing business for developing multi-modal logistics parks in-line with the ‘coordinated and accelerated growth’ approach of MIV 2030. Adani Group company is developing India’s largest multimodal logistics park at Sanand, Ahmedabad, spread across 1450 acres under an agreement with the Government of Gujarat.
Over the past two years, APSEZ has aggressively expanded its presence on both the East and the West coasts of India. In 2021, it added – Krishnapatnam and Gangavaram ports in Andhra Pradesh to expand its pan-India presence. APSEZ’s under-construction port of Vizhinjam in Kerala, along with the new terminal in Colombo, Sri Lanka, will create the new transshipment hub for Southeast Asia.
While expanding the footprint aggressively to become the world’s largest port company by 2030, APSEZ also aims to emerge as the first global carbon-neutral port company by 2025 with the entire port cargo operations powered by renewable energy. The company is formulating its net-zero plan to be announced in the second half of this year.
The Economic Survey, tabled in parliament on January 31, emphasized the importance of ports to India’s trade competitiveness and confirmed that the government has made it a priority to expand and modernize port capacity as part of a wide-ranging commitment to overall national infrastructure development. (ANI)
