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Adani Ports cross 250-mt mark in cargo handling

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Herons Logistics

MUMBAI : Adani Ports and Special Economic Zone Ltd (APSEZ) handled 250 million tonnes (mt) of cargo at its network of 12 ports since the fiscal year began in April.

APSEZ crossed the 250-mt mark on January 21, sources said.

This is the highest ever cargo volumes handled by India’s biggest private port operator since its started operations some two decades ago.

The previous highest cargo handled by APSEZ was 247 mt in FY21.

Revised guidance

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.

From a single port when it began operations, APSEZ currently owns and runs twelve ports with a capacity to handle 560 mt of cargo.

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