Adani Ports & Special Economic Zone (APSEZ) has bagged a key environmental and coastal regulation zone approval to more than double the capacity of Mundra port at an investment of Rs 45,000 crore, according to a news report in The Economic Times on June 17.

Mundra already handles the highest-ever volume by any port in India and Adani Group has lined up major investments for upcoming and ongoing projects. For FY25, APSEZ claims that Mundra Port alone is poised to cross the 200 MMT cargo volume mark. Adani’s India volumes are still dominated by Mundra Port, which contributed 44 percent to the cargo volumes at the end of FY24, marginally lower than a year ago.

APSEZ had applied to Ministry of Environment’s Expert Appraisal Committee (EAC) seeking permission to raise the capacity at the port. “EAC, after examining the documents submitted by the project proponent (APSEZ) and detailed deliberations held on 15 May 2024, recommended the proposal for environment and CRZ clearance”, Economic Times reported citing minutes of the committee’s meeting. APSEZ had not responded to ET’s request for comment. Moneycontrol is yet to independently verify the development.

Mundrs Ports plays a crucial roles in APSEZ’s expansion plans in India. In FY24, APSEZ had handled roughly 27% of India’s total cargo and 44% of container cargo.
“APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year,” Ashwani Gupta, the whole-time Director & CEO of APSEZ had said in the earnings release earlier in May 2024.

The Adani Group also has plans to build the world’s largest renewable energy manufacturing hub in Mundra, Gujarat, which will also house production units of almost all things that go into green energy generation facilities, including polysilicon, ingots, wafers, cells, solar modules and even wind turbines.
Source: Moneycontrol News