Adani Ports Receives Green Light to Double Mundra Port Capacity

Mundra Port
Preeti Bali / 7:00 am / June 17, 2024

Adani Ports & Special Economic Zone (APSEZ) has secured a crucial environmental and coastal regulation zone approval to more than double the capacity of Mundra port, its flagship port in Gujarat. The expansion project, estimated to cost Rs 45,000 crore, aims to enhance the port’s handling capacity and strengthen its position as a leading player in India’s maritime sector.

Mundra Port’s Significance and Expansion Plans

Mundra port already holds the record for the highest cargo volume handled by any Indian port. The Adani Group has ambitious plans for the port’s future, with major investments lined up for both ongoing and upcoming projects. In the fiscal year 2025 (FY25), APSEZ anticipates that Mundra Port alone will surpass the 200 million metric tonne (MMT) cargo volume mark.

Regulatory Approval and Expansion Details

The approval for the expansion was granted by the Ministry of Environment’s Expert Appraisal Committee (EAC) after a thorough examination of documents submitted by APSEZ and detailed deliberations. The minutes of the committee’s meeting reveal that the EAC recommended the proposal for environment and CRZ clearance.

APSEZ’s Dominance in Indian Cargo Handling

Mundra Port plays a pivotal role in APSEZ’s expansion plans within India. In FY24, APSEZ handled approximately 27% of India’s total cargo and 44% of container cargo, showcasing its dominant position in the country’s maritime trade.

Future Growth Projections and Ambitious Targets

APSEZ has outlined ambitious growth projections for FY25, targeting cargo volumes of 460-480 MMT, revenue of Rs 29,000-31,000 crore, and EBITDA of Rs 17,000-18,000 crore. The company aims to achieve a cargo volume of 500 MMT by 2025, driven by the acquisition of Gopalpur Port and the upcoming commissioning of Vizhinjam Port and WCT.

Adani Group’s Renewable Energy Initiatives

The Adani Group also has ambitious plans to establish the world’s largest renewable energy manufacturing hub in Mundra, Gujarat. This hub will encompass production units for various components of green energy generation facilities, including polysilicon, ingots, wafers, cells, solar modules, and wind turbines. This move aligns with the group’s commitment to sustainable energy and its efforts to contribute to India’s renewable energy goals.

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