Mumbai: Adani Ports and Special Economic Zone (APSEZ) plans to expand its cargo operations and increase its market share to 40 per cent by 2025. With 247 million tonne of cargo throughput in 2020-21, the company enjoys a 25 per cent market share of India’s exim cargo.Also Read - Uddhav Thackeray Drives Towards Raj Bhavan To Submit Resignation As Maharashtra CM | Watch
“We intend to enhance our country coverage beyond 90 per cent, increasing market share from an existing 25 per cent at the close of 2020-21 to a projected 40 per cent by 2025,” said Adani Ports’ CEO Karan Adani in his message to the shareholders in the company’s annual report. Also Read - Rebel Shiv Sena MLAs Arrive In Goa, To Depart For Mumbai In Few Hours
The company has also revised its port cargo throughput by 25 per cent to 500 million tonne by 2025. Also Read - Maharashtra Crisis Live: Uddhav Submits Resignation to Governor After Resigning From CM’s Post
“At APSEZ, we see exciting possibilities ahead. We have upwardly revised our port cargo throughput target by 25 per cent (100 MMT) to 500 MMT by 2025,” he said.
The company also aims to emerge as the first global carbon-neutral port company by 2025. Besides, it also has a target to become the largest port company in the world in the space of just a little over three decades from scratch by 2030.
He said that the company’s maturing ports and newly acquired ports are growing in tandem as twin growth engines in enhancing free cash generation.
The Dhamra and Kattupalli ports, which were acquired in 2015 and 2018, respectively, turned around with positive returns on investments, he said, adding: “Our approach to proactively address the changing economic landscape, resilience to overcome Covid-19-like disruptions, readiness to capitalise on uncertainties and responsiveness towards a customer-centric integrated logistics solutions provider will make us torch bearers for the industry.”
(This is an IANS story. India.com has not Edited the Text and Headline)