Adani Ports aims to boost cargo volumes to 1 billion tonnes by 2030 : Karan Adani

Cont’d. from Pg. 3

While addressing APSEZ’s shareholders in the annual report, Karan Adani said the company plans to evolve from port intermediation to doorstep delivery, which may get APSEZ a larger pie of customers’ logistics spending and subsequently lead to annuityincomes.

APSEZ, which has a market capitalization of Rs. 1.57 trillion, will gradually build its port interests outside India, said Karan Adani. However, he noted that investments outside India are more likely to be in operationalportsandwithalimitedequityexposure.

“Theportsbusinesscontinuedtobeapillarofstrength on all fronts. APSEZ continues to be amongst the most profitable port operators globally with port EBITDA margin of 70% – and, by 2030, we intend to be not only the mostprofitableportcompanyintheworldbutalsoIndia’s largest transport utility capable of handling a billion tonnesofcargoannually,”saidGautamAdaniinaseparate address to the shareholders of the group’s listed flagship AdaniEnterprisesLtdonTuesday,18thJuly.

Gautam Adani said that the acquisition of Haifa Port in Israel will allow Adani Group to connect its ports across the Indian Ocean and the Mediterranean, giving the group a strategic position to capitalize on the growth ofbothIndiaandthewiderregion.

On 3 July, Adani Ports said it handled 101.4 million metric tonnes (MMT) of cargo during the first quarter of FY24, a 11.5% year-on-year jump as compared to the same period in the previous fiscal. “Growth observed across most ports and all three broad cargo segments –Container +19%, Liquids & Gas +8%, and Dry Bulk +7%,”thecompanysaid.

InJunealone,AdaniPortshandled32.8MMTofcargo including1MMTattheHaifaPort.