Adani’s strategic moves: How an Indian conglomerate is taking on China

Gautam Adani, the Chairman of Adani Group, is capitalising on a decline in China’s global ambitions, especially through projects like the Belt and Road Initiative. Adani is competing with China by developing a terminal at Colombo port in Sri Lanka, supported by over half a billion dollars of US investment, as part of India’s strategy […]

The proposed Vadhavan Port in Palghar district, Maharashtra, estimated to cost over Rs 75,000 crore, is expected to significantly impact the region and change lives, according to Sanjay Sethi, Chairperson of Jawaharalal Nehru Port Authority (JNPT). Despite being an important project, it has faced propaganda causing misunderstandings.

JSW Infrastructure is reportedly among 10 companies, including Dutch dredging contractor Royal Boskalis Westminster N.V, Rail Vikas Nigam Ltd, Container Corporation of India Ltd and Essar Ports Ltd, that have submitted expressions of interest for the project.

The second Chinese ship, Zhen Hua 29, is set to arrive at the international deep-sea facility in Vizhinjam, India, on November 9. It will carry one ship-to-shore crane for Vizhinjam port and several yard cranes for Mundra port. The vessel will offload the crane and then depart for Mundra port in Gujarat.

The US will invest $553 million for a port terminal in Sri Lanka that Indian billionaire Gautam Adani is developing. The funding is seen to be to curb Beijing’s domination over Sri Lanka after Colombo splurged on Chinese port and highway projects before its economic meltdown last year.

The demand for warehousing has shown resilience marked with growth in lease rentals for logistic spaces across top eight markets during the half year ended September. While occupier traction seems to have taken a pause in the current analysis period, rent growth across markets has been relatively healthy during the period since March.

Mundra Port, operated by Adani Ports and Special Economic Zone Ltd (APSEZ), achieved a new cargo handling record, surpassing 16.1 million metric tonnes (MMT) in October, marking the highest volume ever handled by an Indian port. It also set a new milestone by handling 4.2 million TEUs of containers in just 203 days

It is the largest port in the country with 102 MMT of cargo handled so far this year with a good 9 per cent year-on-year growth. The port crossed the 100 MMT mark in 210 days, surpassing the record of 231 days last year.

Overall, in the initial seven months of FY24 (April-October 2023), APSEZ handled 240 MMT of total cargo, an 18% Y-o-Y growth. Across its ports in India, the recorded year-on-year volume growth for the company was 15%, the statement said.