Adani to Invest Rs. 13,000 Crore to Expand Vizhinjam Port by 2028

India's biggest private port operator is focusing on scaling up its marine, logistics, and agri-logistics businesses.

In an interview with PTI, Adani said that APSEZ, the flagship company of the Adani group, will invest Rs 13,000 crore in Vizhinjam International Seaport in phase 2, which will take this deep-water port's cargo handling capacity from current 1.2 million TEUs (twenty-foot equivalent units) to almost 5 million TEUs by 2028.

The Vizhinjam International Seaport, which was finished at an estimated cost of Rs 8,867 crore, was put into service by Prime Minister Narendra Modi.

While it is pointed out that APSEZ is the largest operator in the country in the marine business.

Adani said, "the idea now is to keep scaling that (marine business) business up within India, as well as outside of India".

The logistics side, Adani said APSEZ is looking at building multi-model logistics parks, similar to what the Adani group has done in the ports.

We want to build large, multi-modal logistics parks, and then to help it bring in volume, as well as to drive efficiency.

Approximately 75 percent of India's transshipment cargo is currently handled in ports outside of the country, costing Indian ports between $200 and $220 million annually in lost revenue from transshipment handling of goods coming into or going to India.