‘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 $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.