‘We Don’t Need More Ports, Need More Ca­pac­ity’

There is a line of thought in the in­dus­try that with so many port projects be­ing planned (in In­dia), there may be too many ports and not enough cargo

The Economic Times - - Companies -

The $10-bil­lion Adani group has been ag­gres­sive in the ports sec­tor, lin­ing In­dia's coast­line with nine ports. In an in­ter­view to Anir­ban Chowd­hury, Adani Ports & Spe­cial Eco­nomic Zone chief ex­ec­u­tive Karan Adani said the com­pany will for now con­cen­trate on its ex­ist­ing or on­go­ing projects in­stead of scout­ing for new ones. Edited ex­cerpts:

What is the next line of fo­cus or ex­pan­sion for APSEZ? Next is just to com­plete the ex­ist­ing projects. We are ex­pand­ing in Dhamra (port), dou­bling our ca­pac­ity over there from 25 (mil­lion tonnes per an­num) to 50. The fo­cus is over there. (At) Hazira, we have to get our rail­way line in so we are fo­cussing on that. We are set­ting up our LNG and LPG ter­mi­nals in Mun­dra and Dhamra. And the Vizhin­jam project. So, this year, we will just fo­cus on what we have in our hand, close that, fin­ish our con­struc­tion, get the busi­ness run­ning.

There are peren­nial talks of Es­sar ap­proach­ing you with a stake sale pro­posal for one or more of its port projects. Where does all that stand now? We are not even in talks with them. Let me put it this way: it's a ru­mour. We keep valu­ing ac­qui­si­tions, but noth­ing is on the ta­ble.

ES­SAR PRO­POSAL We are not even in talks with them (Es­sar) . Let me put it this way: it's a ru­mour KARANADANI Adani Port & SEZ CEO

In a pre­vi­ous in­ter­view, you had men­tioned you would look at in­ter­na­tional port projects. Have you ze­roed in on any? We are look­ing at it, but noth­ing se­ri­ous. We have eval­u­ated ... but I would say it’s still two to three years away be­fore we do any­thing se­ri­ous in this. There is a line of thought in the in­dus­try that with so many port projects be­ing planned (in In­dia), there may be too many ports and not enough cargo. Let me put it this way: we (In­dia) don't have enough ca­pac­ity. We (In­dia) may not need more ports but we need more ca­pac­ity.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.