Latest news with #AdaniPortsandSEZLtd
Time of India
02-05-2025
- Business
- Time of India
‘Together, we sail towards a stronger, bolder India': Gautam Adani on Vizhinjam Port
NEW DELHI: Gautam Adani , chairman of the Adani Group , expressed his gratitude towards Prime Minister Narendra Modi and Kerala chief minister Pinarayi Vijayan for their support in the development of India's first deep-sea automated port , the Vizhinjam International Deepwater Multipurpose Seaport . Adani called the port a significant step towards making India a stronger and bolder nation. Speaking after Prime Minister Narendra Modi dedicated the Rs 8,900 crore port to the nation, Adani described the project as a combination of vision, resilience, and collaboration. "Today, at Vizhinjam, history, destiny, and possibility came together as a 30-year-old dream of Kerala became India's gateway to the world,' Adani said in a post on X. He added, 'We are proud to have built India's first deep-sea automated port. A future global transshipment hub. This is a triumph of vision, resilience, and partnership.' — gautam_adani (@gautam_adani) The strategic Vizhinjam port is expected to play a key role in strengthening India's position in global trade. Its location near one of the busiest sea trade routes, combined with a natural deep draft of nearly 20 metres, ensures that it will be pivotal in reducing India's reliance on foreign ports for cargo transshipment. Karan Adani, managing director of Adani Ports and SEZ Ltd (APSEZ), also praised the joint efforts of the Central and state governments, as well as the administration and people of Kerala. "A historic day. Grateful to the Central and State Governments, and the administration and people of Kerala, especially Thiruvananthapuram, for their support in making this port stand as a testament to India's strategic and bold maritime ambitions," Karan Adani posted on X. The new port is expected to reduce logistics costs for Indian manufacturers by 30-40 per cent, significantly enhancing the country's export competitiveness. With a capacity increase planned to 5 million TEUs (Twenty-foot Equivalent Units) by 2028, the port is set to become a key player in India's maritime infrastructure. The Adani Group, in collaboration with both the central and state governments, has already invested over Rs 4,500 crore in the Vizhinjam project. Further investment of Rs 20,000 crore is expected in the upcoming phases, creating more than 5,000 jobs and significantly boosting the local economy. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
NDTV
02-05-2025
- Business
- NDTV
"It's Much Better Equipped": Karan Adani On Kerala's Vizhinjam Port
New Delhi: Karan Adani, the Managing Director of Adani Ports and SEZ Ltd (APSEZ), on Friday said Kerala's Vizhinjam Port is "much better equipped" and said it will "enable the growth" of the country. The Vizhinjam International Seaport in Kerala - India's first mega transshipment container terminal - was formally inaugurated by Prime Minister Narendra Modi on Friday It has been built by the APSEZ, the country's biggest port developer and part of the Adani Group, in partnership with the government under a public-private model. The project cost around Rs 8,900 crore and received its commercial go-ahead in December last year after a successful trial phase. Speaking to reporters after the inauguration event, Mr Adani thanked PM Modi and Kerala Chief Minister Pinarayi Vijayan for their support. He also said that the APSEZ is targeting 90 per cent utilisation of the resources. Speaking on the impact of tariffs imposed by US President Donald Trump, Mr Adani said that any disruption in trade routes "definitely impacts shipping lines and the movement of cargo". "In that way, some of the transhipment points actually benefit from disruptions because shipping lines will have to re-route some of the cargo. That is from a transhipment perspective. I think from a trade perspective, we are seeing that a lot of manufacturing is moving into India and the export boxes increasing from India to the US," he added.
Hans India
02-05-2025
- Business
- Hans India
Together, we sail towards a stronger, bolder India: Gautam Adani
Gautam Adani, Chairman of the Adani Group, on Friday said he is grateful to Prime Minister Narendra Modi and Kerala Chief Minister Pinarayi Vijayan for their support towards building India's first deep-sea automated port which is a future global transshipment hub, adding that together, 'we sail towards a stronger, bolder India'. This is a triumph of vision, resilience, and partnership, said Gautam Adani as PM Modi dedicated to the nation the Vizhinjam International Deepwater Multipurpose Seaport worth Rs 8,900 crore. 'Today, at Vizhinjam, history, destiny, and possibility came together as a 30-year-old dream of Kerala became India's gateway to the world,' said the billionaire industrialist in a post on X. 'We are proud to have built India's first deep-sea automated port. A future global transshipment hub. This is a triumph of vision, resilience, and partnership,' Gautam Adani added. The Adani Group Chairman further stated that 'together, we sail towards a stronger, bolder India.' Vizhinjam Port, having strategic importance, has been identified as a key priority project that will contribute to strengthening India's position in global trade, enhance logistics efficiency, and reduce reliance on foreign ports for cargo transhipment. Its natural deep draft of nearly 20 metres and location near one of the world's busiest sea trade routes further strengthen India's position in global trade. 'A historic day. Grateful to the Central and State Governments, and the administration and people of Kerala, especially Thiruvananthapuram, for their support in making this port stand as a testament to India's strategic and bold maritime ambitions,' said Karan Adani, Managing Director of Adani Ports and SEZ Ltd (APSEZ), in a post on X. The port is expected to significantly lower logistics costs for Indian manufacturers by 30-40 per cent, enhancing the country's export competitiveness. With plans to increase capacity to 5 million TEUs by 2028 with the latest technology, the port is set to play a crucial role in India's maritime infrastructure. Working closely with the state government and the Central government, the Adani Group has already invested over Rs 4,500 crore in the Vizhinjam International Seaport project. The Adani Group is expected to invest another Rs 20,000 crore in the project's upcoming phases, creating more than 5,000 jobs and boosting the local economy to unprecedented heights.
Hans India
02-05-2025
- Business
- Hans India
Vizhinjam International Seaport: India's 1st automated deep-sea port set to transform maritime trade
The idea and efforts of establishing a deep-sea port at Vizhinjam dates back to 1991. Over the years, multiple attempts were made to initiate the project, but it faced several challenges, including security concerns and legal disputes related to bidding and lack of investor interest. In August 2015, the Kerala government signed an agreement with Adani Ports and SEZ Ltd (APSEZ) to develop the Vizhinjam International Deepwater Seaport under a Public-Private Partnership (PPP) model. This marked a significant step towards realising the long-standing vision of a world-class port in the region. Following the unsuccessful attempts of 1995, 2004, 2008 and 2010, the state government in 2014, recognising the standalone financial viability of the project, structured the project with viability gap funding (VGF) assistance from the Central government and substantial financial support from state government. Adani Ports emerged as the sole selected bidder and was awarded the project in 2015. The agreement granted Adani a 40-year concession to build, operate, and transfer the port, with a provision for a 20-year extension. However, the execution of the Vizhinjam Port project was fraught with challenges. Cyclone Ockhi in 2017 caused significant damage to the construction, particularly the breakwater, leading to delays. A scarcity of essential construction materials, especially limestone, further hampered progress. Agitations resulting from apprehension related to Coastal Erosion and livelihood loss. Moreover, the COVID-19 pandemic disrupted supply chains and labour availability, contributing to further delays. Despite these obstacles, the Adani Group persisted, overcoming all challenges with patience and maturity, and continued to work towards project completion. As of May 2025, the Vizhinjam International Seaport stands as a testament to India's maritime ambitions: The port commenced trial operations in July 2024, receiving its first mothership, the San Fernando. In September 2024 and April 2025, it welcomed the MSC Claude Girarde and MSC Turkiye, listed among world's ultra large container vessels and largest vessels ever visited an Indian Port. Since start operation, the Port has handled more than 280 vessels and 6 Lakh TEUs (Twenty-Foot Equivalent Units). The port boasts a natural deep draft of 18m close to shore that requires no capital dredging. Vizhinjam can leverage its natural depth to host even ultra-large next-gen container ships requiring 20m+ drafts. It features India's tallest ship-to-shore cranes and is equipped with AI-powered vessel traffic management systems. Situated just 10 nautical miles from the international east–west shipping route, Vizhinjam is poised to become a pivotal transshipment hub, reducing India's reliance on ports like Colombo, Singapore, and Dubai. The port is expected to significantly lower logistics costs for Indian manufacturers by 30-40 per cent, enhancing the country's export competitiveness. With plans to increase capacity to 5 million TEUs by 2028 with latest technology, the port is set to play a crucial role in India's maritime infrastructure. Working closely with the state government and the Central government, the Adani Group has already invested over Rs 4,500 crore in the Vizhinjam International Seaport project. As India's first automated port, Vizhinjam is setting new benchmarks in port management and operations. The Adani Group is expected to invest another Rs 20,000 crore in the project's upcoming phases, creating more than 5,000 jobs and boosting the local economy to unprecedented heights.
