The steam coal import terminal of Adani at Visakhapatnam port is ready eight months ahead of the deadline
After the report of Essar developing three iron ore berths at Visakhapatnam port, the port is again in the news. This time it is Adani Ports & Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of the Adani Group, a global integrated player, informed this morning that it had completed the US$ 64.5 million steam coal import terminal at Visakhapatnam port, eight months ahead of schedule. With this Adani will be operating its first port on the East coast of India.
Visakhapatnam port consists of three harbors – outer harbor, inner harbor and the fishing harbor. The outer harbor has six berths and the inner 18 berths. Visakhapatnam port enjoys a draft of 17 meters thus being able to accommodate 150,000 DWT vessels in the outer harbor and vessels of upto 230 meters LOA in the inner harbor where the draft is 11 meters.
The Adani Vizag Coal Terminal Pvt. Ltd., a subsidiary of APSEZ, had entered into a concession agreement with Vishakhapatnam Port Trust to set up a steam coal handling facility project with a capacity of 6.4 million ones a year in March 2011 with a completion deadline of August 2014.
“The Group has set a record in completing the Adani Vizag steam coal terminal project eight months ahead of schedule,” said Karan Adani, Executive Director, APSEZ. “The facilities created at the port can handle steam coal volumes of up to 9 million tons. The Visakhapatnam port is strategically situated for coal imports to feed the local industries and power plants of the states of Andhra Pradesh, Odisha, Chhattisgarh and Maharashtra. This development again reiterates Adani’s commitment for setting up world class port infrastructure in the country,”
APSEZ also operates ports in Mundra, Hazira and Dahej, in Gujarat and is setting up coal handling facilities in Mormugao in Goa and at Kandla in Gujarat.
Adani owns and operates three ports – Mundra, Dahej and Hazira in Gujarat, on the West coast of India. The Mundra Port, which is the largest port in India, benefits from deep draft, first-class infrastructure and SEZ status. Adani is also developing ports at Mormugao and Kandla also on the West coast in India.
Last week Adani Hazira Port Private Ltd, a subsidiary of Adani Ports & SEZ Ltd, obtained the distinguished ISO certification for exemplary environmental, quality and occupational health and safety management at its terminal in Hazira port, in Gujarat. The Indian Register Quality Systems has conferred the ISO 9001:2008, 14001:2004 & OHSAS 18001:2007 certification on Adani Hazira Port Pvt Ltd, thus paving way for global recognition in the world of maritime trade.
Adani Hazira Port Pvt Ltd operates two container berths, three Multipurpose Berths and will shortly commence handling of Liquid cargoes.
The Adani Group is one of India’s leading business houses with revenue of over $8.7 billion. Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of emerging economies.
Adani is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, they are one of the largest coal importers in India and also have extensive interests in oil and gas exploration. Adani have fixed an ambitious target for enhancing its extractive capacity and is scheduled to increase from 4 MMT of thermal coal in 2013 to 200 MMT per annum by 2020.
Adani is the largest private thermal power producer in India. Its power generation capacity is slated to increase from current 7,300 MW to 9,280 MW by the end of FY14. They are currently developing six power projects across Gujarat, Maharashtra, Rajasthan and Madhya Pradesh.
APSEZ achieved a consolidated total income for the half year of $ 495.8 million which is an increase of 77% over the previous year’s $ 280.5 million for the same period. Though the company suffered a fall in profit of 19% to $ 57.9 million in its standalone second quarter results, the consolidated profits for the second quarter however, showed an increase of 24% to $ 57 million as compared to $ 46 million in the same period last year.