There are as many as 12 ports across six states that host Adani’s projects – Goa, Odisha, Kerala and Gujarat are some of them.
The stakeholders of the Indian ports continue to create more opportunities, even amidst a downturn caused by the pandemic. Adani Group, one of the largest private port owners has undertaken new acquisitions even during a difficult time for the businesses.
There are as many as 12 ports across six Indian states that host Adani’s projects Goa, Odisha, Kerala and Gujarat are some of them. Having said that, the group has continued to look for new options even after the acquisition of Krishnapatnam Port. The group is keen to acquire the state-owned Container Corporation of India Limited (Concor). The authorities too are looking to divest the stake in the firm.
The strategic acquisition of the Concor will add another feather into the cap of Adani Group, which already operates a robust portfolio of projects. Gangavaram port remains the most expensive acquisition of the conglomerate.
Although Adani Group’s other port projects are relatively minor, it has been making informed decisions and deals to make its presence felt in the country’s port industry.
HPCL Shapoorji Energy Private Limited (HSEPL) has emerged as another big player in the port businesses with acquisition of humongous projects. The 5 million tonnes per annum LNG terminal was built by HSEPL in Gujarat’s Gir Somnath district.
On the other hand, Jawaharlal Nehru Port Trust is likely to acquire 108-acre land for building a dry port in Nashik. The rapid acquisitions and recent developments in particular are testament to the growth of the port sector in India.
In FY22, the key ports are expected to deliver seven projects worth around Rs 2,000 crore. Despite the pandemic hampering various operations and causing a lot of distress to both small and big players, new acquisitions have remained the silver lining for the sector in the most devastating times.
It will be interesting to see how the sector responds to the changing dynamics post pandemic. While the challenges will remain intact, there will be fair share of opportunities for the big players to rule the roost.