CHENNAI: Adani Group plans to invest Rs 20,000 crore at various ports to increase its cargo capacity four-fold to 1 billion tonnes by 2030, according to Karan Adani, chief executive officer of Adani Ports and SEZ (APSEZ).
As per reports, the company would invest Rs 5,000-Rs 6,000 crore each year in expanding its capacity with an internal cash flow of about Rs 8,000 crore. The CEO further expressed the company’s goal of becoming the world’s largest port operator.
The group is looking to acquire ports in Vietnam, Tanzania, and Kenya, among others, in the Mediterranean Sea, with the ports having strong trade ties with India and a robust domestic economy. Adani Ports and SEZ had earlier this year acquired Israel’s Haifa port. He was speaking at the press conference at the docking of the first ship carrying cranes for the construction at Vizhinjam port built at a Rs 7,700 crore investment. The vessel Zhen Hua 15 was received by Karan Adani and Kerala Chief Minister Pinarayi Vijayan, among others.
With its strategic location on the international shipping route and having a natural water depth of 18-20 meter within a km away from the coast, makes it best suited to accommodate very large vessels. It is expected to open next May, marking a significant step in the transhipment containment terminal. Karan Adani said there is a lot of interest from shipping lines for the facility.