Adani Ports aims to increase cargo volume to 1 billion tons by 2030

Adani Group’s largest revenue generator, Adani Ports and Special Economic Zone Ltd. (APSEZ), intends to become the world’s largest port company and increase its annual cargo volume from the current 340 million tons to 1 billion tons by 2030, Karan Adani, the company’s CEO said in the latest annual report.

Speaking to APSEZ shareholders in the annual report, Karan Adani said the company plans to evolve from port brokerage to doorstep delivery, which could give APSEZ a larger share of customers’ logistics spend and subsequently lead to pension income.

APSEZ with a market cap of $1.57 trillion will gradually expand its port interests outside of India, Karan Adani said. However, he noted that investments outside of India would tend to be in operational ports and with limited equity exposure.

“The port business continued to be a pillar of strength on all fronts. With a port EBITDA margin of 70%, APSEZ continues to be among the most profitable port operators in the world – and by 2030 we aim to be not only the most profitable port company in the world, but also India’s largest transport company with a capacity of one billion tons “The volume of cargo per year is 1.5 billion euros per year,” Gautam Adani said Tuesday in a separate address to shareholders of the group’s flagship listed company, Adani Enterprises Ltd.

Gautam Adani said the acquisition of the Port of Haifa in Israel will enable the Adani Group to link its ports across the Indian Ocean and the Mediterranean, giving the group a strategic position to capitalize on the growth of both India and the wider region benefit.

On July 3, Adani Ports announced that it handled 24 101.4 million tonnes (MMT) of cargo in the first fiscal quarter, representing an 11.5% year-on-year increase compared to the same period in the previous fiscal year. “Growth can be seen in most ports and all three major cargo segments – containers +19%, liquids and gas +8% and dry bulk +7%,” the company said.

In June alone, Adani Ports handled 32.8 MMT of cargo, including 1 MMT in the Port of Haifa.

Adani Ports shares fell marginally and closed at 728.15 a piece on NSE on Tuesday.

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