Warning: Undefined array key "HTTP_ACCEPT_LANGUAGE" in /home/u596154002/domains/usbusinessreviews.com/public_html/wp-includes/load.php on line 2057

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rank-math domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/u596154002/domains/usbusinessreviews.com/public_html/wp-includes/functions.php on line 6114
Adani to pump in Rs 20,000 cr for 4x boost in ports capacity by 2030 - Best Business Review Site 2024

Adani to pump in Rs 20,000 cr for 4x boost in ports capacity by 2030

[ad_1]


The Adani group is planning to invest up to Rs 20,000 crore in expanding its cargo capacity at ports four times to 1 billion tonnes by 2030 to emerge as the world’s largest company in this field.


In this regard, the group may look at acquisition globally if it gets a good local partner in a country with economic and political stability, Karan Adani, scion of the Adani group and chief executive officer of Adani Ports & SEZ (AP&SEZ), said in an interaction on Sunday.


The group, which acquired Haifa Port in Israel early this year for $1.2 billion, is looking to acquire ports in East Africa (Kenya and Tanzania), Vietnam, and some in the Mediterranean Sea.

 


“The port overseas must have good trade ties with India and a strong domestic economy for us to invest,” Adani said. “Many ports across the world are run by the governments and they are looking to privatise them. We are looking at a few of them.”


Adani said the fight between Israel and Hamas had had no impact on operations at Haifa Port so far.


“We are confident of our investment in Haifa Port. When we had done our due diligence, we had expected some disruption. The port operations are going on and we do not expect any problem,” Adani said. Only 3 per cent of the AP&SEZ volumes currently comes from Haifa Port. “We do a lot of due diligence and take a lot of calculations when we are entering a country, but obviously, political stability is the most important factor,” he said.


Adani said the company (AP&SEZ) would invest Rs 5,000-6,000 crore each year in expanding its capacity. “The company is earning Rs 7,000-8,000 crore of free cash flow each year, which will be used to fund the expansion,” Adani said, as the group inaugurated its Vizhinjam trans-shipment terminal here. The company will buy back its entire foreign exchange bonds of $650 million by January, he said.


The estimated project cost for the first phase of the Vizhinjam project is Rs 7,700 crore, comprising a private-public partnership (PPP) component, funded work, external support infrastructure, the cost of land, rehabilitation, etc.


“We are confident of the business case in this site because there is a lot of interest from shipping lines from customers to use this port, and because of that encouragement we will be expanding as soon as this phase is over,” Adani said.


“With Vizhinjam Port and also our position in Colombo, we will be able to give a solution to the shipping lines connecting all our ports in India,” Adani said.


Vizhinjam Port will play a critical role from supply chain surety to shipping lines in terms of not just container but also from bulk, from bunkering and other commodities point of view, Adani said.


The PPP component, costing Rs 4,089 crore, consists of the berth, dredging and reclamation, project equipment, the container yard, and allied facilities.


The construction of a breakwater and a fishing harbour (funded work) will be constructed by the private partner, for which the Kerala government will pay Rs 1,463 crore.


Airport IPO after Navi Mumbai commissioning


The Adani group is looking to commission its Navi Mumbai airport project by next year and may come up with fundraising plans, including an initial public offering (IPO) for the airport vertical by 2026, Adani said.


The cement capacity of Ambuja Cements and its subsidiary ACC will increase to 140 million tonnes per annum (mtpa) by 2030 in accordance with the plans announced earlier, and the company is looking at acquisition in the sector if a good opportunity arises, said Adani, who is chairman of ACC. Of this, 30 mtpa of cement capacity will be announced before March. 

[ad_2]

Source link

slot gacor slot gacor togel macau slot hoki bandar togel slot dana slot mahjong link slot link slot777 slot gampang maxwin slot hoki slot mahjong slot maxwin slot mpo slot777 slot toto slot toto situs toto toto slot situs toto situs toto situs toto situs toto slot88 toto slot slot gacor thailand slot bet receh situs toto situs toto slot toto slot situs toto situs toto situs toto situs togel macau toto slot slot demo slot pulsa slot pragmatic situs toto deposit dana 10k surga slot toto slot link situs toto situs toto slot situs toto situs toto slot777 slot gacor situs toto slot slot pulsa 10k toto togel situs toto slot situs toto slot gacor terpercaya slot dana slot gacor pay4d agen sbobet kedai168 kedai168 deposit pulsa situs toto slot pulsa situs toto slot pulsa situs toto situs toto situs toto slot dana toto slot situs toto slot pulsa toto slot situs toto slot pulsa situs toto situs toto situs toto toto slot toto slot slot toto akun pro maxwin situs toto slot gacor maxwin slot gacor maxwin situs toto slot slot depo 10k toto slot toto slot situs toto situs toto toto slot toto slot toto slot toto togel slot toto togel situs toto situs toto toto slot slot gacor slot gacor slot gacor situs toto situs toto cytotec toto slot situs toto situs toto toto slot situs toto situs toto slot gacor maxwin slot gacor maxwin link slot 10k slot gacor maxwin slot gacor slot pulsa situs slot 10k slot 10k toto slot toto slot situs toto situs toto situs toto bandar togel 4d toto slot toto slot situs toto