Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
The Adani Group is planning a $3 billion investment to strengthen its port operations, with an eye on the corridor that connects India to Europe. The action is intended to take advantage of the rising demand for coal and iron ore imports in addition to the export of finished goods.
Over the next two years, the company intends to boost its total port handling capacity from approximately 600 million tonnes per annum to 800 million tonnes (MT). The expansion would be accomplished mostly through a series of international acquisitions, according to the report's sources.
The group aims to expand its global presence by targeting three or more major ports in coastal regions of Europe, Africa, and Southeast Asia. The group oversees its port operations (APSEZ) under Adani Ports and Special Economic Zone Ltd.. According to a source, the $3 billion capital project will be paid for using a combination of cash reserves, internal accruals, and loans.
The project aims to enhance the contribution of international ports to APSEZ revenue from 10% to 20-25% within the following three years. The group manages port facilities in Israel, Sri Lanka, Indonesia, Tanzania, and Australia.
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