Mundra Port, the flagship port of Adani Ports and
SEZ Ltd. (APSEZL), has achieved a new landmark of handling 100 million metric tonnes in FY 13-14. Mundra is the only commercial port in India to have achieved such a unique feat. APSEZL, India's largest port developer and operator is part of the Adani Group.
The Mundra Port, signed the concession agreement in 2001-2002. In a short span of just 12 years Mundra Port created history by achieving 100 million metric tonnes of commercial cargo in a year. This is the fastest growth in Port sector our country has witnessed and one of the best by global standards, surpassing all the Government as well as Private commercial ports of India (a compounded annual average growth rate of over 35%). Mundra port has deployed state-of-the art technology which ensures the highest levels of efficiency and productivity. The port today possesses capacity to handle over 200 million tonnes of cargo.
Commenting on this momentous occasion, Gautam Adani, Chairman, Adani Group said, "This is a significant milestone for APSEZL's journey. It reconfirms my faith in the passion and commitment of our employees. This coupled with our customers' trust in our capabilities will help us in achieving our vision of handling 200 million metric tonnes of cargo much ahead of our original timeline of 2020. I see Mundra Port as a strategic harbinger which our network of ports on Indian coast will emulate, and grow exponentially."
The company developed India's longest private railway line (64 km) to connect Mundra port with the national railway grid in November 2000. The first container terminal of the current three, was commissioned in July 2003 and the first offshore single point mooring for crude oil, was commissioned in December 2005. State-of-the art Roll on Roll Off (Ro-Ro) automobile terminal with a floating pontoon (one of its kind in South Asia) was commissioned in January 2009. Mundra boasts of the world's largest and fully mechanized coal import terminal with a capacity of 60 MMTPA which was commissioned in December 2010. This rapid pace of developments is what helped Mundra port to gallop to 100 million metric tonnes in just 12 years.
Adani Ports and Special Economic Zone also operates terminals in Hazira and Dahej, in Gujarat, Mormugao in Goa and Visakhapatnam in Andhra Pradesh. It is setting up a bulk cargo handling facility in Tuna Tekra (Kandla Port) in Gujarat and a container terminal at Ennore in Tamil Nadu.
Shares of ADANI PORTS AND SPECIAL ECONOMIC ZONE LTD. was last trading in BSE at Rs.187.5 as compared to the previous close of Rs. 186. The total number of shares traded during the day was 288779 in over 4674 trades.
The stock hit an intraday high of Rs. 192.85 and intraday low of 185.85. The net turnover during the day was Rs. 54654353.
Source : equitybulls.com