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Friday, July 12, 2024

Adani Ports’ ₹45,000 Crore Mundra Expansion Gets Nod

Adani Ports & Special Economic Zone (APSEZ) reportedly got a key environmental and coastal regulation zone approval to more than double the capacity of Mundra port at an investment of ₹45,000 crore. APSEZ applied to Ministry of Environment’s Expert Appraisal Committee (EAC) seeking permission to raise the capacity at the port, Economic Times reported.

“EAC, after examining the documents submitted by the project proponent (APSEZ) and detailed deliberations held on 15 May 2024, recommended the proposal for environment and CRZ clearance”, the report claimed citing committee’s meeting.

This comes as APSEZ handled roughly 27% of India’s total cargo and 44% of container cargo in FY24.

“APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year,” Ashwani Gupta, the whole-time Director & CEO of APSEZ said earlier.

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