Adani Ports Achieves Record 48% Growth in Cargo Handling for October 2023

3 Nov 2023 , 12:14 PM

Adani Ports and Special Economic Zone Ltd (APSEZ), a key player in India’s transport sector and part of the Adani Group, reported handling 37 MMT of total cargo in October 2023, marking a substantial year-on-year growth of 48%.

This achievement is historic for APSEZ, as the total cargo volume across the company’s Indian ports exceeded 35 MMT, reaching 36 MMT, reflecting a remarkable 43% year-on-year increase.

APSEZ’s Haifa Port in Israel also performed well by managing over 1.1 MMT of cargo in October, slightly surpassing its recent cargo volume trends. In the first seven months of FY24 (April to October 2023), APSEZ has handled a total of 240 MMT of cargo, showing a solid 18% year-on-year growth.

The company’s ports in India collectively demonstrated a volume growth of approximately 15% on a year-on-year basis. CEO and Whole Time Director of APSEZ, Karan Adani, attributed the growth to the company’s three-pronged business strategy, focusing on higher operational efficiencies, an integrated business model providing end-to-end services, and strategic partnerships with stakeholders, including customers.

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