Adani to add 17 more ships to its current fleet by 2020

PTI New Delhi | Updated on March 29, 2012 Published on March 29, 2012

Conglomerate Adani Enterprises may spend close to Rs 3,400 crore for adding as many as 17 more ships to its current fleet by 2020.

The company which owns two vessels for ferrying fuel from its overseas coal mines, recently acquired one more ship for the purpose.

“The company aims to buy at least 2 ships every year for the next eight years,” sources said.

Approximately an investment of about Rs 200 crore or (nearly $ 40 million) is required to buy a capesize vessel, which is mainly used in the import and export of coal. Adani Enterprises declined comments.

Adani Group has carved out an ambitious plan for the next eight years.

It aims at mining as much as 200 million tonnes of coal, achieve a cargo handling capacity of 200 million tonnes, produce 20,000 MW electricity, besides buying 17 more ships by 2020.

The group operates ports at Mundra, Dahej, Hazira (Gujarat), coal berths in Goa and Visakhapatnam, and a coal terminal in Abbot Point in Australia.

Adani Ports and Special Economic Zone (APSEZ), the port operating arm of Adani Group recently signed a pact with US based Port of Baltimore for trade facilitation and technology upgradation or transfer.

Under the agreement, APSEZ would set up a dry bulk terminal having a capacity of 20 million tonnes on build, operate and transfer basis at an investment of Rs 1,200 crore.

The facility is expected to be commissioned by 2014.

Published on March 29, 2012

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