For the first time in its history, Adani Ports and Special Economic Zone (ASPSEZ) handled more than 100 million tonnes of cargo in a six-month period in the first half of 2018-2019. Volumes were up by 15% compared with the first six months of the 2017-18 financial year.
Most of the ports in the APSEZ portfolio registered strong growth, with volumes at Mundra up by around 12%, Hazira by 23%, Dahej 36% and the Tuna Terminal near Kandla by 68%. Kattupalli in the south also continues to register double digit growth with cargo volumes rising by 22%.
The company has announced that core operating income and profitability on an EBITDA basis in the first half of the current financial year were up by 17% and 24% respectively, because of the higher cargo volume growth and the resulting increased revenue from port operations.
Karan Adani, Chief Executive Officer, said: “The Indian economy will continue to grow in spite of the recent rupee depreciation and oil price hike shocks to the economy. We do not foresee any impact on Indian imports and exports and we are truly on course to achieve 200 million tonnes of cargo volume in the 2019 financial year.”
APSEZ’s 10 ports and terminals – in Mundra, Dahej, Kandla and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam in Andhra Pradesh, and Kattupalli and Ennore in Chennai – represent 24% of the country’s total port capacity. The company is also developing a transhipment port at Vizhinjam, Kerala.