Adani Ports To Handle 400 MTPA Of Cargo In FY24

20 Oct 2023 CW Team

Adani Ports and Special Economic Zone Ltd. is poised to exceed the handling of 400 million tonnes per annum (MTPA) of cargo in the fiscal year 2024, in line with its ambitious target of reaching 500 MTPA by 2025, as revealed by Adani Ports Chief Executive Officer, Subrata Tripathi.

Tripathi conveyed this impressive projection while attending the Global Maritime India Summit in Mumbai, affirming that the company has already achieved a remarkable 200 MTPA during the first and second quarters of fiscal year 2024. Furthermore, he expressed confidence in the company's capability to reach the 400 MTPA milestone in FY24, aligning seamlessly with the overarching goal of attaining 500 MTPA by 2025. In the previous year, Adani Ports handled 350 MTPA of cargo, leveraging its substantial capacity of nearly 600 MTPA. Tripathi emphasized that, given Adani Ports' role in routing 25% of cargo in India, there is a strong belief that the target can be attained without significant hindrances.

Adani Ports has undertaken an ambitious expansion agenda across its network of "string of pearls" ports on both the east and west coasts of India. This expansion is designed to cultivate a vibrant maritime ecosystem, attracting investments to the ports. Tripathi elucidated, "We plan to create additional container terminals at the Mundra port and have a maritime industrial ecosystem with industries such as Tata Power, which has an ultra-mega power project. We are also setting up a copper plant, a green hydrogen hub, and a green PVC plant, which will act as magnets to attract investment at the ports." He emphasized the pivotal role played by the availability of 40,000 acres of land at Mundra in enabling these grand developments.

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