In a bid to complete its own version of the ‘Sagalarmala’ Project – a $10.5 billion Indian government initiative to modernise India’s ports – Adani Ports has set a target to establish a presence in the Indian states of Maharashtra, Andhra Pradesh and Karnataka, as well as setting up transhipment terminals in Southeast Asia and East Africa, according to the Business Standard.
Karan Adani, Executive Director of the Adani Ports and Special Economic Zone, said: “Our focus will be having presence in these three states of Maharashtra, Karnataka and Andhra Pradesh, so that our nine ports are better served and our own 'Sagarmala' plan is fulfilled.
“We are also keen to have transhipment terminals in Southeast Asia, especially in Myanmar and Bangladesh, and also in East Africa, so that these facilities can serve the upcoming Vizhinjam facility, which can compete on cost with the Colombo and Singapore ports, which handle more than 80% of the country's international trade.”
Adani said: “Our Vizhinjam strategy will be cost-led and we are confident that we can beat Colombo and other nearby ports on costs.”
Adani Ports previously signed an agreement with the Kerala government to build Vizhinjam Port, increasing its portfolio of new port projects to nine, with Vizhinjam anticipated to be completed by 2018.
Adani has also recently signed an agreement to acquire Kattupalli Port in Tamil Nadu from L&T Shipbuilding.