Mundra Port, the flagship port of Adani Ports and Special Economic Zone Ltd (APSEZ), has overtook state-run Jawaharlal Nehru Port Trust (JNPT) in container handling with 5.65 million twenty-foot equivalent units (TEUs) in FY21, posting a growth of 18 per cent over the previous year.

JNPT handled 4.67 million TEUs in FY21, a decline of 7.04 per cent over FY20. Overall Mundra port handled 144.4 million tonnes (mt) of cargo in FY21, clocking a growth of 4 per cent on a year-on-year basis.

Last year when Adani Ports and Special Economic Zone Ltd came out with its ambitious plan to handle throughput volumes of 400 million tonnes by 2024-2025, not many expected the company to reach its goal through the inorganic acquisition route.

However, with three big acquisitions at a combined value of Rs 18,000 crore in the last six months, Adani Ports is cruising on its way to achieving its target.

The three acquisitions are expected to add around 120-140 million tonnes annually to the company’s total cargo handling volumes which stood at around 223 MT in 2019-20 (April-March).

Mundra Port and the flagship of Adani Ports and Special Economic Zone Ltd (APSEZ) is surging ahead year after year, but the hike in rates both on marine as well as rail side from April 1 reflects its ability to dictate terms to users on the back of its growing clout in ports.

APSEZ cranked up the rail handling charges at Mundra by double digits from $85 for a loaded 20-foot container to $110 and from $125 for a loaded 40-foot container to $165.

Which is why the Adani Ports and Special Economic Zone (APSEZ) Ltd. is acquiring the 58.1 per cent stake held by D.V.S. Raju and family in the Gangavaram Port Limited (GPL).

The acquisition is valued at ₹3,604 crore and subject to regulatory approvals. APSEZ, the transportation arm of Adani Group, had announced acquisition of Warburg Pincus's 31.5 per cent stake in GPL on March 3 and together with this acquisition, APSEZ would have 89.6 per cent stake in GPL.

Currently, GPL operates nine berths and has free hold land of 1,800 acres. With a master plan capacity for 250 MMTPA with 31 berths, GPL also has headroom to support future growth.

GPL handles a diverse mix of dry and bulk commodities including Coal, Iron Ore, Fertilizer, Limestone, Bauxite, Sugar, Alumina, and Steel. GPL is the gateway port for a hinterland spread over eight states across eastern, southern and central India.

APSEZ’s port holdings make up 24 per cent of India’s port capacity, making it India’s largest port developer and operator, operating 12 ports and terminals across India — Mundra, Dahej, Tuna and Hazira in Gujarat, Dhamra in Odisha, Mormugao in Goa, Visakhapatnam and Krishnapatnam in Andhra Pradesh, Dighi in Maharashtra and and Kattupalli and Ennore in Chennai.