Gautam Adani’s son Karan Adani has come up with a Rs 20,000 crore plan.
Gautam Adani’s son Karan Adani has drawn up a Rs 20,000 crore plan. Karan Adani, who runs Adani Port and SEZ Company, will spend this money on the Vizhinjam International Port located in Kerala. Before attending Anant Ambani’s wedding, the Managing Director of Adani Ports and Special Economic Zone Limited, Karan Adani himself, gave this information. After the official welcome ceremony of ‘San Fernando’, the first big ship to call at Vizhinjam, Karan Adani said that this port will be a game changer for Indian manufacturers. He said that this will reduce their logistics costs by 30 to 40 per cent. APSEZ has developed the port under the PPP model at a cost of about Rs 8,867 crore.
Will spend 20 billion rupees
Karan Adani said that we are going to invest Rs 20,000 crore more from our books and we will be able to complete the remaining phases in one go. He said that the company is not really focusing on market share but on reducing logistics costs for manufacturers. Adani said that the port project faced a lot of difficulties but the support of common people, government and political parties helped in completing its first phase. Adani said that when we voiced our views, the local people supported us. All other political parties also gave us their support. No project is easy, not just in Kerala but anywhere in the country. But now everyone is supporting us in this mission.
He had to face many difficulties.
He said that they initially faced problems in getting the required quantity of stones to construct the breakwater. Adani said that now we have enough stone to complete the rest of our phases and the breakwater is almost complete. According to him, Vizhinjam port, due to its special position, will play an important role as the country’s first shipping port. Earlier in the day, Kerala Chief Minister Pinarayi Vijayan formally welcomed the 300-metre-long ‘San Fernando’ at a ceremony held at the port in the presence of Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal.
stocks looked flat
Shares of Adani Port and SEZ closed flat on Friday. According to BSE data, the stock closed at Rs 1,486.40 on Friday with an increase of Rs 1.85 per share. However, during the trading session, the company’s stock also touched the day’s high of Rs 1,496.50. On June 3, the company’s stock had touched a 52-week high of Rs 1,607.95. This means that the company’s stock is down by 7.50 per cent. At present, the company’s market capitalisation has reached Rs 3.21 lakh crore.
