Ten of Adani's ports clock life high cargo volumes, 'no adverse implications' of Middle East unrest

Led by a strong growth in cargo volumes at the Mundra facility, ten of Adani Ports and SEZ's ports have recorded life-time high cargo volumes, the ports major reported on May 2.

The India volumes are still dominated by Mundra Port, which contributed 44 percent to the cargo volumes at the end of FY24, marginally lower than a year ago.

On the Middle East unrest, APSEZ said the is closely monitoring the ongoing war situation 'which is now only restricted to a concentrated area'. It is not having any adverse implications on the operations as of now, it added. The Adani Group effectively owns 70% stake in Israel's Haifa Port.

"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 in the exchange filing. Adani Ports said the growth has come through higher volumes at existing ports and addition of Karaikal and Haifa Port last fiscal.

The company has issued a guidance of 460-480 MMT of cargo volumes for FY25, after registering a 12 per cent year-on-year growth in April cargo volumes. With the acquisition of Gopalpur and Karaikal ports, the logistics major now has 15 ports spread across India.