Adani Ports and Special Economic Zone Ltd (“APSEZ”) attains a new milestone by passing over cargo volumes of 300 million metric tonnes before the financial year-end on March 31, 2022. With that, Adani Ports proceed to outperform all India cargo volume growth, with its market share surging promptly.
Karan Adani, CEO, and Whole Time Director, APSEZ announced, “The momentum of our cargo volumes is a manifestation of our ability to proceed to complete on our strategy.”
Adani Ports has been continuously engaged with boosting its cargo volumes. While the Adani Group firm took about 14 years to accomplish 100 million metric tonnes annually with five ports in its portfolio, notably, the firm made twice as much its cargo volumes to 200 million metric tonnes in just the successive five years with nine ports in its belt.
Now with 12 ports in its portfolio, Adani Ports has got a milestone of organizing 300 million metric tonnes annually in a time frame of just 3 years. In an announcement, the firm asserted that the three-year journey from 200 MMT to 300 MMT comprises the two years of global economic deceleration due to the pandemic.
Further, Adani told, “This achievement also emphasizes the ability of APSEZ to modify to fast-paced modifications due to the global market and geopolitical volatility and proceeds its journey towards sustainable development. I must thank our devoted teams that lead our growth and our tremendous workforce that makes it all take place on the ground. We are optimistic of reaching our goal of 500 MMT by 2025 and emerge as the world’s biggest private ports firm by 2030.”
“We anticipate our expansion is going to continue to accelerate given our abilities that are now best-in-class and the tailwind of a thriving Indian economy,” Adani announced.
In line with ramping up its industrial operations, Adani Ports has also considerably delivered on its responsibilities to sustainability. Energy and emission power has been reduced by around 30% from 2016 levels. Electrification of Rubber Tyred Gantry Cranes (RTGs) has been completed, and that of Quay Cranes and Mobile Harbour Cranes is in progress, with 2023 as the mark fulfillment year. Diesel-based Internal Transfer Vehicles (ITVs) are being displaced by electric ITVs. The initial batch of 100 electric ITVs is likely to appear in mid2022 and the total count is expected to cross 400 in 2023. Another green port drive is a 50% discount on Port Dues, Pilotage, and Berth Hire Charges for ships using LNG as fuel. With increased afforestation and numerous other green measures already underway, APSEZ is well on its way to accomplishing its target of carbon neutrality by 2025.
On Tuesday, Adani Ports stakes ended in the green on BSE. The stock sat at ₹739.65 apiece up 0.6% on the exchange. The stock has reached an intraday high and low of ₹744.15 apiece and ₹723.20 apiece respectively.