Adani Ports and Special Economic Zone Ltd (“APSEZ”), integrated transport utility in India and a part of the diversified Adani Group, has crossed a milestone by handling 300 MMT of cargo well ahead of the year end (March 2022). APSEZ has registered unprecedented growth since it started operations just over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly, it said in a press statement.
“The acceleration of our cargo volumes is a manifestation of our ability to continue to execute on our strategy,” said Karan Adani, CEO and Whole Time Director, APSEZ. “We are confident of reaching our goal of 500 MMT by 2025 and emerge as the world’s largest private ports company by 2030,” Adani added.
While it took 14 years to achieve 100 MMT annually (with five ports in its portfolio), APSEZ doubled it to 200 MMT annually (with nine ports in its portfolio) in just the next five years. Now, with 12 ports in its portfolio, APSEZ’s milestone of handling 300 MMT annually has come about in just three years. Remarkably, the three-year journey from 200 MMT to 300 MMT includes the two-year period of global economic slowdown due to the pandemic, it said.
In parallel with ramping up its business operations, APSEZ has also significantly delivered on its commitments to sustainability. Energy and emission intensity has been reduced by around 30 percent from 2016 levels. Electrification of Rubber Tyred Gantry Cranes (RTGs) has been completed, and that of Quay Cranes and Mobile Harbour Cranes is in progress, with 2023 as the target completion year. Diesel-based Internal Transfer Vehicles (ITVs) are being replaced by electric ITVs. The first batch of 100 electric ITVs is likely to arrive in mid2022 and the total count is expected to cross 400 in 2023. Another green port initiative is a 50 percent discount on Port Dues, Pilotage and Berth Hire Charges for ships using LNG as a fuel. With enhanced afforestation and several other green measures already underway,
APSEZ is well on its way to achieving its target of carbon neutrality by 2025, it added.