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The apex court's order has come as a shot in the arm for APSEZ which is planning a Rs 45,000 crore expansion for the Mundra port.
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This aligns with India's bold target laid out last month to become one of the top 10 shipbuilder as per the Maritime India Vision 2030 and be in the top five by 2047.
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Mundrs Ports plays a crucial roles in APSEZ's expansion plans in India. In FY24, APSEZ had handled roughly 27% of India's total cargo and 44% of container cargo.
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MV MSC Hamburg is 399 metres long and 54 metres wide vessel. The vessel dimension equals 4 football fields, APSEZ said in a statement.
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In relation to the September 2021 seizure of heroin valued at Rs 21,000 crore from Mundra port in Gujarat's Kutch area, a special court remanded an Afghan citizen and two other individuals to the National Investigation Agency's (NIA) 10-day custody on Saturday.
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The 5,651.68 kilogram of heroin seized in 2021 would cost around Rs 40,000 crore. Each kg of heroin costs around Rs 7 crore, according to a rough estimate based on recent seizures.
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The contraband, hidden inside fabric rolls to dodge the authorities, was sent from the United Arab Emirates (UAE) and was meant to be transported to Punjab, Gujarat Director General of Police Ashish Bhatia said.
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Gujarat ATS recently confiscated drugs worth Rs 350 crore from Mundra port. The consignment reached from Dubai but may have originated from Afghanistan. Drugs being transported in containers is emerging as the biggest threat to narco-terrorism
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A Gujarat ATS officer said they would wait for the operation to be completed before sharing any information “but it is confirmed that there is going to be a drugs seizure in Mundra"
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Based on specific inputs, a team of DRI officials searched the container which had arrived at the Mundra port some time ago from a foreign country and was kept at a Container Freight Station nearby, the official said.
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Officials at Kolkata’s Syama Prasad Mookerjee Port, Chennai Port, Jawaharlal Nehru Port Trust (JNPT), Mundra Port, Thoothukudi’s V.O. Chidambaranar Port and Cochin Port said they are looking to improve cargo handling efficiency and get rid of supply chain bottlenecks in order to handle more capacity.
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APSEZ is the operator of Mundra Port, where a total of 2,988.21 kg of heroin, estimated to be worth over Rs 20,000 crore, was seized on September 13.
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The seized hazardous cargo containers were en route from Karachi in Pakistan to Shanghai in China, and the containers were not destined for Mundra Port.
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The federal agency early this month took over the case from the Directorate of Revenue Intelligence (DRI) on directions of the Union Home Ministry and registered a criminal complaint under sections of the Narcotic Drugs and Psychotropic Substances Act and the Unlawful Activities Prevention Act (UAPA).
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The value of the seized heroin per kilogram is about Rs 5-7 crore in the international market, an official said. The eight people arrested include four Afghan nationals, one Uzbek National and three Indians.
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The party also sought a response from Prime Minister Narendra Modi on the seizure of heroin from Afghanistan by the Directorate of Revenue Intelligence at Gujarat’s Mundra Port, operated by Adani group.
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The containers, which were loaded with nearly 3,000 kg of heroin, were shipped from the Bandar Abbas Port in Iran. Five people, including a couple in Chennai, arrested. The others were held in Mumbai. The containers were reportedly imported by a Vijayawada-based entity.
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The upcoming capacity expansion of Mundra Port, touted as one of the top multi-purpose ports in the country in terms of traffic held, would lead to employment generation for 600 people, sources said.
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Adani Ports' first quarter (April-June) consolidated profit may increase 2 percent year-on-year to Rs 653 crore and revenue is seen rising 3 percent to Rs 1,806 crore, according to average of estimates of analysts polled by CNBC-TV18.
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The infrastructure firm had clocked a net profit of Rs 5.63 crore for the October-December period of the previous fiscal. The company's total income from operations remained stagnant at Rs 56 crore.
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In 2010, the government had issued a notification seeking to impose 16 percent customs duty on power generated in SEZs as it viewed the power sold from SEZ as an import
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Retail tur dal prices today shot up to Rs 200 per kg despite the government's steps to boost supply and check prices, aggravating consumers' woes. Till last week, tur was available at Rs 185 per kg in the retail market.
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The objective of the partnership is to assist industries, traders, importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from post harvest storage to export or import stages, APSEZ and NCML said in a joint release.
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"There is natural draught of 20 metres to receive bigger ships. A feasibility study for a satellite port has been completed internally. At present, there is only one big port in Maharashtra — JNPT. The new port will be an alternative to JNPT to decongest ship movement," Fadnavis said.
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In terms of the Presidential Directives issued in 2012 and last year, CIL board had earlier decided that under fuel supply pacts for new power plants commissioned after 2009, out of the minimum assured quantity i.e. 80 per cent of Annual Contracted quantity, 15 per cent shall be supplied from imported coal.
