The Adani Group is set to invest a staggering Rs 20,000 crore to expand its cargo capacity at ports, with the ambitious goal of increasing it fourfold to 1 billion tonnes by 2030, aiming to become the world’s largest firm in this sector. Karan Adani, CEO of Adani Ports & SEZ (AP&SEZ), mentioned that the group may explore global acquisitions if they find a suitable local partner in a country with both economic and political stability.
Potential acquisition locations include East Africa (Kenya and Tanzania), Vietnam, and the Mediterranean Sea. These acquisitions should have strong trade ties with India and a robust domestic economy. Political stability remains a crucial factor in their investment decisions.
Adani also revealed that the recent Israel-Hamas conflict has not affected operations at Haifa Port, acquired earlier this year. Political stability remains a vital factor in assessing potential investments. AP&SEZ plans to invest Rs 5,000-6,000 crore annually in capacity expansion, funded by the company’s substantial annual free cash flow.
They aim to buy back their entire foreign exchange bonds of $650 million by January.
The Vizhinjam trans-shipment terminal was inaugurated as part of the group’s expansion strategy. The first phase of this project is estimated to cost Rs 7,700 crore.
