HONG KONG: In the next six years, Dhamra port will become the new Mundra of the East coast, said a senior official of the Ahmedabad-based Adani Port and Special Economic Zone (APSEZ), an Adani Group company that completed the acquisition of the Rs 5500 crore port in Odisha, a couple of days back.
“Our experience in the port sector has been good across India. We just acquired Dharma port on the east coast. It is all set to become the Mundra of the East in the next 5-6 years, handling about 100 MTPA (million tonnes per annum),” said B Ravi, chief financial officer (CFO) of APSEZ while speaking at an international seminar organised at the Adani Institute of Infrastructure Management (AIIM) here on Wednesday.
Ravi was referring to the Mundra port in Kutch district that clocked about 100 MPTA of cargo in March this year. “We are the only port to have handled done 100 MPTA in March this year. The second in rank is Kandla port which has done about 92 MTPA.,” he said emphasing how APSEZ that was just a single port company in 2010 operating the Mundra port in Gujarat, has now grown in stature and now runs about eight ports across the country.
In May, Gautam Adani-promoted APSEZ executed a definitive agreement with L&T Infrastructure Development Projects Limited and Tata Steel Limited to acquire 100 percent stake in Dhamra Port Company Limited (DPCL) which was a 50:50 joint venture between L&T and Tata Steel. The Dhamra-port deal was completed on Monday.
