APSEZ cargo volumes rise to 300 MMT

Ahmedabad: Adani Ports and Special Economic Zone Ltd (APSEZ), the largest integrated transport utility in India and a part of the diversified Adani Group, has crossed a historic milestone by handling 300 million metric tonnes (MMT) of cargo well ahead of the FY22 end. 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.

"The acceleration of our cargo volumes is a manifestation of our ability to continue to execute on our strategy," said Mr Karan Adani, CEO and Whole Time Director, APSEZ.

"Our network of ports across the Indian coastline coupled with our integrated logistics capabilities, focus on technology enabled digitised operations and, most importantly, the deep relations that we have built with our customers and partners (that include the global shipping lines), are all coming together to make APSEZ a full-fledged integrated ports & logistics platform that augments each other. We anticipate our growth to continue to accelerate given our capabilities that are now best-in-class and the tailwind of a growing Indian economy."

"This achievement also underlines the ability of APSEZ to adapt to fast paced changes due to global market and geopolitical volatility and continue its journey towards sustainable growth. I must thank our dedicated teams that drive our growth and our great workforce that makes it all happen on the ground. We are confident of reaching our goal of 500 MMT by 2025 and emerge as the world's largest private ports company by 2030."

APSEZ has been continuously accelerating the time taken to increase cargo volumes. 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.

In parallel with ramping up its business operations, APSEZ has also significantly delivered on its commitments to sustainability.