Adani Port & SEZ Limited to Develop 3rd Phase of Mundra Port
Adani Port and SEZ Limited will
invest USD881.69 for expansion of Mundra Port, thereby driving the demand for
Port Infrastructure Market in India
India: Adani Port & SEZ Limited
signed a MOU worth USD881.69 Million in Vibrant Gujarat Global Summit for
expansion of existing Adani port at Gujarat. The MOU was signed in the presence
of Gujarat’s Deputy Chief Minister, Nitin Patel and will lead
to employment generation for around 600 people. A slew of MOUs was signed in
Vibrant Gujarat Summit including West Cost Liquid Terminal which would invest
USD176.34 Million for development of West Cost Liquid Terminal at Chhara (Gir
Somnath).
TechSci Research depicts that modernization and expansion of ports by
private international companies is anticipated to fuel growth of port
infrastructure market in India. Additionally, several Coastal Economic Zones
(CEZs) projects are underway to concentrate manufacturing clusters near major
ports and this is expected to surge demand for maritime trade in the country. Port led industrialization is
anticipated to provide immense scope for reduction in logistics costs. Rising
number of Public Private Partnerships and 100% FDI under automatic route
for development of ports is anticipated to encourage international
companies to start operations in India in the ensuing years.
According to released report of TechSci Research, “India Port Infrastructure Market By Type, By Cargo, Forecast
& Opportunities, 2011 - 2025”, ports infrastructure market in India is projected to grow at
a CAGR of over 9% during 2016-2025, on account of heavy infrastructure funding
at ports and related infrastructures such as connecting roads, railways and
Coastal Economic Zones. Additionally, National Perspective Plan of Government
of India envisaged an investment of over USD10 billion for the next five years,
aimed at development of ports.