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.
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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.