Adani Ports reports 31% YoY growth in cargo volume during January 2021
Posted On: 2021-02-01 22:40:22 (Time Zone: Arizona, USA)
The company has announced about the operational performance of Adani Ports and Special Economic Zone Limited ( APSEZ ) as under for January 2021:
APSEZ handled cargo volume of 26.02 MMT a growth of 31% on Year on Year basis (Includes volume of 3.87 MMT of Krishnapatnam Port which was acquired in October, 2020). The growth in cargo volume for the month of January, 2021 excluding Krishnapatnam Port was 11% on Year on Year basis.
Year to Date: (April, 20 to January, 21)
During the current financial year 2021, APSEZ handled cargo volume of 200.14 MMT (includes Krishnapatnam Port 13.60 MMT) thus registering a Year on Year growth of 8%.
India sets agenda for smart ports
By
Vijay Sakhuja ( IANS) |
Published on
Sat, Jan 30 2021 12:03 IST |
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Economy.. Image Source: IANS News
New Delhi, Jan 30 : India is all set to transform its sea ports into smart ports and in due course upgrade these to intelligent ports . In this pursuit, Industry 4.0 technologies such as artificial intelligence and machine learning would be put to use, and smart traffic management tools would not only simplify and smoothen the operations of major ports but add to efficiency. All this is envisioned in the Maritime India Vision-2030.
Meanwhile, during the three-day brainstorming or Chintan Baithak , Mansukh Mandaviya, Minister of Ports, Shipping and Waterways, expressed optimism, dedication and motivation to put India on the world map as the maritime leader .
Read more about Market Ahead, January 29: All you need to know before the opening bell on Business Standard. Shares of IRFC will debut on the bourses today. The issue that ran between January 18-20 was subscribed 3.49 times
Adani Ports raises 10-year $500mn through unsecured notes
January 28, 2021
Karan Adani, CEO, Adani Ports and SEZ - BusinessLine×
Prices the senior unsecured notes at 3.10% with marquee investors across all geographies
nder its ongoing debt management plan, private ports major, Adani Ports and Special Economic Zone Limited (APSEZ) has raised $500 million (approx ₹3,653 crore) through issuance of 10-year senior unsecured instrument.
APSEZ informed that it successfully priced a $500 million 10 years bullet senior unsecured USD note issuance at a fixed coupon of 3.10 per cent on January 26, 2021 with marquee investors across all geographies.
This becomes third issuance in the fiscal 2020-21 so far for the Adani Group’s ports arm, totalling the overall issuance at over $1.50 billion (approx ₹11,000 crore).
Adani Ports and Special Economic Zone Limited (APSEZ), the ports & logistics company of the Adani Group, successfully priced a $500 million 10-year bullet senior unsecured USD note issuance at a fixed coupon of 3.10 per cent. The offering received tremendous participation from marquee investors across key markets and geographies which enabled the order book to build around 6 times leading to tightening of spreads and pricing under fair value. This was the second issuance for APSEZ and third for the port vertical company of Adani Group in the current financial year with total issuance amounting to over $1.5 billion. Karan Adani, CEO and Whole Time Director of APSEZ said: “Current issuance is part of our capital management programme to extend debt maturity and refinance debt well in advance of maturity. The strong global demand has enabled us to price the issuance at the most competitive rate in APSEZ history.”