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March 4, 2024
News

Adani Ports handle 250 mt of cargo in January

By Priti Naik

Creating a record, Adani Ports and Special Economic Zone Ltd (APSEZ) handled 250 million tonnes (mt) of cargo at its 12 ports since the fiscal year began in April. APSEZ crossed the 250-mt mark on January 21.

This is the highest ever cargo volumes handled by India’s biggest private port operator since it started operations around two decades ago. The previous highest cargo handled by APSEZ was 247 mt in FY21.

According to a revised guidance issued by APSEZ in October, the port operator is expected to handle between 350 and 360 mt of cargo in FY22.This includes 10 mt of incremental volume from existing ports and 39 mt of Gangavaram port which was acquired by the company and to be consolidated from April 2021. Its consolidated revenue guidance is in the range of 18,000 -18,800 crore at a growth of 50 per cent over last year.

Of the total revenue, the revenue from logistics business is expected to be in the range of 1,000 -1,200 crore, growing at 25 per cent over last year. Beginning its operations from a single port, APSEZ  now currently owns and runs twelve ports with a capacity to handle 560 mt of cargo.

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