APSEZ Sanctioned by Environmental and Coastal Regulation Zone for Rs. 45000 Cr Mundra Port Expansion

APSEZ
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Mundra Ports plays an important role in APSEZ’s expansion goals in India. In FY24, APSEZ handled around 27% of India’s total freight and 44% of container cargo.

According to a news report, Adani Ports & Special Economic Zone (APSEZ) has received vital environmental and coastal regulation zone approval to more than double Mundra port capacity for a Rs 45,000 crore investment. Mundra already has the biggest volume of any port in India, and Adani Group has planned significant expenditures for prospective and ongoing projects. According to APSEZ, Mundra Port is expected to exceed 200 MMT of cargo volume in FY25.

Mundra Port continues to dominate Adani’s India business, accounting for 44% of cargo volumes at the end of FY24, which was somewhat lower than the previous year. APSEZ had filed to the Ministry of Environment’s Expert Appraisal Committee (EAC) for approval to expand the port. “EAC, after examining the documents submitted by the project proponent (APSEZ) and detailed deliberations held on 15 May 2024, recommended the proposal for environmental and CRZ clearance,” the sources said, citing committee meeting minutes. The sources have yet to independently verify the development.

Mundrs Ports plays an important role in APSEZ’s expansion goals in India. In FY24, APSEZ handled around 27% of India’s total freight and 44% of container cargo.

“APSEZ is well poised to achieve 500 MMT of cargo volumes in 2025, aided by the recently acquired Gopalpur Port and the scheduled commissioning of Vizhinjam Port in the current year and WCT next year,” Ashwani Gupta, APSEZ’s full-time Director & CEO, stated in an earnings release earlier in May 2024.

APSEZ is well positioned to achieve 500 MMT of cargo volumes in 2025, aided by the recently acquired Gopalpur Port and the scheduled commissioning of Vizhinjam Port this year and WCT next year,” Ashwani Gupta, APSEZ’s full-time Director & CEO, stated in an earnings release earlier in May 2024.

The Adani Group aims to establish the world’s largest renewable energy manufacturing hub in Mundra, Gujarat. The facility will produce polysilicon, ingots, wafers, cells, solar modules, and wind turbines, among other items used in green energy generation.

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