Analysts predict massive growth for India’s all-weather, multipurpose port in the years following APSEZ’s acquisition of a stake in the strategically located Gangavaram Port. Following a roadshow hosted by Adani Ports and SEZ Ltd. (APSEZ) for Gangavaram Port Limited (GPL) last week, analysts are optimistic that the port will see a significant increase in capacity, owing to large land availability near the port and the port’s strategic location and hinterland reach. The port, which handled 30 million metric tonnes of cargo in FY22, is scheduled to carry 66 million metric tonnes by FY 25. For FY23, the goal is to manage cargo volumes of exceeding 40 MMT.
Currently, a new container facility of 0.8 MTEUs is under commissioning and is expected to complete by Jul ’22. Already, contracts for 150,000 TEUs (~2 MMT) of container cargo handing have been tied up, which is expected to go up to ~400,000 TEU (~6 MMT) of containers by FY25.
The growth is tipped to various catalysts, including commencement of NMDC plant at Nagarnar in FY23, rising Steel EXIM from names such as SAIL, Rashtriya Ispat Nigam Ltd (RINL), JSW Steel and JSPL with operations in the GPL hinterland, and significant momentum being observed for export of agricultural products such as wheat from North India, and rice, tobacco, and chillies from the Guntur belt in Andhra Pradesh.
