Adani Gangavaram Port sets new record in cargo handling

Visakhapatnam: Ending 2023-24 financial year on a happy note, the Adani Gangavaram Port Limited (AGPL) has set a new record of handling 7,473 rakes and achieving a 20 per cent of the year on year growth.

The port, one of the deepest ports in India, will be launching container service on April 17. The port is on track by registering its highest-ever annual cargo of 37.24 MMT for the financial year 2023-2024 with a 15 per cent of the year on year growth. A company spokesperson said on Tuesday that the port owned by Adani Ports and Special Economic Zone (APSEZ) is poised to offer the best services in the container trade and is scheduled to inaugurate its state-of-the-art integrated container scanner facility on April 3.

APSEZ acquired 100 per cent ownership of Gangavaram Port by buying equity from DVS Raju-led consortium, Andhra Pradesh Government and some foreign investors. The container terminal developed at Gangavaram with a capacity of five lakh TEU and integrated railway facility is all set to welcome its first EXIM container service from April 17.

The decision is expected to pose a stiff challenge to Visakhapatnam Port Authority (VPA), which owns the world-class Visakha Container Terminal (VCT) with investment from JM Baxi Group under BOT basis.

The container terminal at Gangavaram is expected to enable new trade routes and international markets to the industry.