Companies

No foray into telecom, oil refining: Gautam Adani

Siddhartha P. Saikia New Delhi | Updated on January 28, 2014 Published on January 28, 2014

A ship carrying coal at Adani Cargo port at Dahej in Gujarat. PTI

Group to focus on ports, SEZ business

Adani Group, with a market capitalisation of $4.1 billion, is not looking at telecom and oil refining business at present. The Gujarat-based conglomerate targets to consolidate its position in the integrated ports and Special Economic Zone (SEZ) business.

“Refining and telecom is not on our radar screen,” said Gautam Adani, Chairman of the conglomerate with businesses in resources, logistics and energy sectors. “We are very clear that over the next five years there is more than enough opportunity to grow our existing core businesses. With regards to oil exploration, we do not expect to spend any significant amounts of capital beyond what we have already invested,” he told Business Line.

Coal leader

The telecom sector in India has leading private players such as Bharti Airtel, Vodafone, Reliance Communications, Idea Cellular, Tata Teleservives and Aircel. And the private oil refining giants in the country are Reliance Industries, Essar Oil and Mittal Energy Investment.

At present, Adani is the largest trader of coal in India with an order book of nearly 97 million tonnes (mt) annually. In addition, it has coal assets in Indonesia and Australia with an expected peak output of 11 mt and 100 mta year, respectively. In the logistics sector, it has three operating ports, and is developing two other terminals.

The company owns and operates four capesize vehicles. In the energy sector, its target is to touch 9,240 MW of capacity in the current fiscal and have 2,923 km of transmission network.

In 2012-13, Adani Group’s net assets touched $18.13 billion against $2.14 billion in 2007-08.

At the same time, the revenues clocked were $8.7 billion in 2012-13 against $ 4.89 billion in 2007-08.

Published on January 28, 2014
This article is closed for comments.
Please Email the Editor