Adani Group’s Flagship Company, Adani Ports and Special Economic Zone (APSEZ) announced that it has set a new record for handling the highest-ever rail cargo – 120.51 million tonnes (MT) in FY23. It surpassed its previous record of rail cargo of 98.61 million tonnes in FY22.
With a 62% YoY growth in rail cargo under the Indian Railways’ General Purpose Wagon Investment Scheme (GPWIS), APSEZ also witnessed a boom in rail freight transport and generated Rs 14,000 crore in revenue from operations with Indian Railways in FY23.
In FY23, Mundra Port solely managed over 15,000 container trains. The number of double-stack container trains handled by the port grew by 4.3% YoY.
According to APSEZ, the effective management of container trains reduces the need for additional vehicle transportation which significantly lessens the carbon footprint of freight transportation.
APSEZ, a subsidiary of Adani Group, has transformed from a port company into an Integrated Transport Utility, offering end-to-end solutions from its port gate to the customer gate. It holds the distinction of being India’s largest port developer and operator, with six strategically positioned ports and terminals on the west coast and five on the east coast of India. These ports and terminals account for 24% of the country’s total port volumes, enabling the handling of significant amounts of cargo.
The shares of Adani Ports were trading 0.42% down at Rs 684.10 per share on Wednesday on BSE.