E-Paper
At 35.65 MMT, Adani Ports sees 42% rise in cargo volume handling
Also, the company handled 311 MMT cargo from January to September 2023, a record for the Adani Group subsidiary.
Multinational port operator Adani Ports and Special Economic Zone (APSEZ) on Tuesday announced that in December 2023, the cargo volume handled by it was 42% more than what it was in December of the previous year.
In a statement, the Ahmedabad-based company said that in December 2023, its cargo volumes stood at 35.65 MMT (million metric tonne).
The release further stated that for the quarter ended December, the company handled cargo worth 109 MMT, of which 106 MMT was contributed by domestic ports portfolio. It added that overall, for the first nine months of 2023, the Adani Group subsidiary handled 311 MT cargo, a 23% YoY increase.
“APSEZ crossed the 300 MMT cargo mark in just 266 days versus its previous best of 329 days in the previous financial year. This milestone only proves that our strategy of driving operational efficiencies to achieve industry leading growth is yielding the desired results. We are now targeting over 400 MMT of cargo volumes in FY24, surpassing the upper end of the guidance range (370-390 MMT) provided at the start of the current financial year,” Karan Adani, CEO, Adani Ports, was quoted as saying.
Also, 10 ports in the company's portfolio registered their highest-ever volumes of cargo.
Adani Ports is India's largest private port operator with 13 such facilities in the country, including its flagship container handling port, Mundra, in Gujarat. From January to September last year, Mudra alone handed 5.5 million TEUs (twenty-foot equivalent) of cargo.
(With PTI inputs)
