Adani Ports records highest-ever rail cargo of over 120 MT in FY22-23

Ahmedabad (Gujarat) [India], May 17 (ANI): Adani Ports and Special Economic Zone (APSEZ), a flagship company of the Adani Group, on Wednesday said it has set a new benchmark by handling the highest-ever rail cargo of 120.51 million tonne (MT) in the financial year 2022-23, surpassing the previous best of 98.61 MT.

The company said it was committed to providing end-to-end logistics. Under the General Purpose Wagon Investment Scheme (GPWIS) of Indian Railways, cargo handled by rail has grown by 62 per cent year-on-year (YoY), the company said, adding, “Mundra Port handled over 15,000 container trains in FY23, cementing its position as India’s EXIM gateway. In FY23, APSEZ generated around Rs 14,000 crore in revenue from rail cargo for Indian Railways.”
According to a statement from Adani Ports, in FY23, double-stack container trains handled by Mundra Port grew by 4.3 per cent YoY.

Double-stack loading of containers on trains ensures transportation in an energy efficient and reliable manner, reducing overall per unit cost and improving customer satisfaction, it said. The company said it demonstrates Mundra Port’s commitment to environmentally-friendly operations.

Adani Ports said the use of rail transport reduces the carbon footprint of freight transport, and the efficient handling of container trains reduces the need for additional truck transport, further reducing carbon emissions.

India’s largest commercial port operator, Adani Ports has been a leading player in the development of India’s port and logistics infrastructure. The company said this feat was an example of responsible business practices and sustainable development.

The shares of Adani Ports were trading 0.51 per cent up at Rs 690.30 apiece on Wednesday on BSE. In the past five days, it had lost 1.60 per cent, according to BSE. The company’s stock has seen a marginal increase in value, indicating positive market sentiment towards the company.

Yesterday, 163,627 shares of Adani Ports were trading and the stock’s closing price was Rs 694.1 apiece on BSE.