Adani Ports is expected to complete 100% stake in Gangavaram Port, during the current fiscal year 2022-23. Currently APSEZ holds around 42% stake in the port that is expected to handle more than double the current capacity of cargo of upto 66 million metric tonnes by FY25. The port had handled 30MMT cargo in FY22, the plan for FY23 is to increase the cargo volumes to 40MMT in FY24. Currently a new container handling facility is being commissioned with a capacity of 0.8MTEUs and is expected to complete by FY22.
The port has so far entered into contracts for handling 150,000 TEUS, which is expected to grow to 400,000 teus by FY25. This cargo will come from commencement of NMDC plant at Nagarnar in FY23, growing steel exim from RINL, JSW Steel, Tata Steel and agri products from North India such as rice, wheat, tobacco and chillies.
