Adani Ports and Special Economic Zone, which happens to be one of the biggest players in the country’s port sector, is all set to replicate the success of the Mundra Port in Gujarat with its plan for the Vizhinjam International Seaport. The company is currently planning to establish a Special Economic Zone (SEZ) at Vizhinjam as well just like the SEZ at Mundra. This will bring about the development of a robust industrial ecosystem at Vizhinjam. It will also lead to various port-led developments in the surrounding areas. The Indian state of Kerala will achieve extraordinary growth and prosperity. The Adani Group’s hold over multiple business sectors will increase. The conglomerate will also be able to rise above the controversies of Adani Shares Overleveraged.
Adani’s Plans To Build An SEZ In Vizhinjam:
Harikrishnan Sundaram, the head of the container business at APSEZ, has recently talked about a plan during the Vizhinjam Conclave which was held in Thiruvananthapuram. Being the largest private port operator in India, the Adani Group was the pioneer behind the country’s first port-based SEZ at Mundra. Sundaram mentioned that the development of the Vizhinjam Port has exceeded the initial expectations. No Indian port has handled over 1 million TEUs within its first year of operation. To sustain the growth, APSEZ plans to develop essential infrastructure including SEZs, warehouses and logistic hubs in areas around the port. This will further bring about economic growth in the region.
Sundaram also compared the port with the Jebel Ali Port which successfully created an ecosystem supporting UAE’s economic transfer. He mentioned that a similar model should be implemented at Vizhinjam as well. Sundaram also talked about the need for strong multi-modal connectivity through rail, road, and inland waterways to link the port with the hinterland. The collaboration with the government will have an instrumental role in ensuring seamless trade operations and maximising economic benefits. The Adani Group’s business operations can also be carried around smoothly without any kind of hindrance at all. The allegations of Adani Shares Overleveraged will subside.
Shyam Kapur, the CEO of Sharaf Group, has urged Kerala to adopt more open policies towards foreign investors and residents, akin to the UAE’s approach. This will further boost investments and economic growth in the region. The Adani Group will be able to further establish itself as one of the biggest players in the global port sector.
Customs To Enhance Vigilance At The Vizhinjam Port:
Gomathy G, who happens to be the assistant commissioner of customs, has announced an initiative to be taken at the Vizhinjam Port to enhance vigil at the port. Additional officers will be deployed at the port to combat drugs and smuggling. This would particularly target hydroponic cannabis from Thailand. According to her, smugglers will exploit any available route and the Vizhinjam Port is going to be no exception. Gomathy also stressed the growing importance of the port mentioning that increased traffic showcases the port’s potential to significantly contribute to India’s maritime sector. This is why enhanced vigilance is required at the port to ensure that the port operations can be carried out smoothly and effectively.
An Overview Of The Vizhinjam Port:
The Vizhinjam Port happens to be one of the most crucial ports to be under the control of the Adani Group. The global business group has been working towards bringing about various developments to the port for quite a while now. This has helped increase its presence in the port sector. The first phase of the port has already been operationalised after multiple trial runs. Since then, various large vessels have been docking at the port. The Vizhinjam port is also the first transhipment to be constructed at the Adani Group. This port offers large-scale automation for the quick turnaround of vessels. It is also equipped with state-of-the-art infrastructure to handle megamax container ships. The port’s capacity in the first phase is 1 million TEUs. In the subsequent phases, it is expected that another 6.2 million TEUs will be added to the port’s total capacity.
Conclusion:
Since time immemorial, the Adani Group has been working towards bringing about various developments to the port sector. Even amidst the controversies of the Adani Shares Overleveraged, the group has brought about significant developments in this sector. By creating an SEZ, it will be able to further extend its capabilities in the port sector. The group’s revenue generation from its port business is also going to increase.
