According to a report, the Adani Group is preparing a $3 billion investment to support its port operations, with a focus on the corridor that links Europe and India. The action is intended to take advantage of the rising demand for coal and iron ore imports in addition to the export of completed goods.
In the next two years, the company run by Gautam Adani intends to boost its total port handling capacity from about 600 million tons annually to 800 million tonnes. The story quoted sources stating that a number of foreign acquisitions will be the primary means of achieving the expansion.
Targeting at least three large ports in Southeast Asia, Africa, and coastal Europe is in line with the group's plan to expand its worldwide reach.
Under Adani Ports and Special Economic Zone Ltd., the group oversees its port operations (APSEZ). According to a source who spoke with Mint, financing for the $3 billion capital project is anticipated to come from a mix of loans, internal accruals, and cash reserves.
Within the following three years, the project aims to raise the percentage of revenue generated by international ports in APSEZ from 10 percent to around 25 percent.
The company has port operations in Australia, Tanzania, Indonesia, Israel, and Sri Lanka. On the National Stock Exchange, Adani Ports' shares closed May 21 at Rs 1,382.55, up 3.16 percent from the previous close.
