Adani Ports and Special Economic Zone (APSEZ) has reported an impressive set of cargo handling results for the financial year ending March 31st 2019. Cargo volume overall was up by 15% compared with the previous 12 months, with traffic at each of its eight Indian ports seeing an increase.
The group’s flagship facilities in Mundra achieved a 13% upturn, while Hazira and Dahej grew by 16% and 30% respectively and the southern port of Kattupalli registered a growth rate of 18%. Cargo volumes across the four terminals within major ports, in Tuna, Vizag, Goa and Ennore, grew exponentially, handling 12 million tonnes, 127% more than in the 2018 financial year.
APSEZ achieved throughput growth across a wide range of cargo types, with coal volumes up 17%, containers by 13%, dry bulk goods by 9% and crude oil by 31%. Reflecting on the results, Karan Adani, APSEZ CEO, said: “The 2019 financial year has been a landmark one in our history. Not only did we exceed our 200 million tonnes target, but we demonstrated our ability to be resilient and grow across all segments and ports.”
The company has recently also signed a 50-year BOT agreement to operate a container terminal in Yangon, Myanmar. This is part of a streaker of expanding its containment terminal network within South East Asia.