Prime Highlights
- Adani Ports signed a strategic MoU with NMDC Ltd and Vale S.A. to develop an iron ore blending facility and a dedicated SEZ at Gangavaram Port.
- The partnership aims to modernize infrastructure, improve supply chain efficiency, and strengthen the port’s position as a major iron ore export hub on India’s east coast.
Key Facts
- Gangavaram Port’s capacity is expected to increase to 75 million metric tonnes, with mechanized cargo-handling systems.
- Following the announcement, Adani Ports shares rose as much as 3.51% intraday to ₹1,564.50 on the National Stock Exchange, reflecting strong investor confidence.
Background
Shares of Adani Ports and Special Economic Zone rose sharply on Monday after the company announced a strategic iron ore agreement with NMDC Ltd and Vale S.A. The stock gained as much as 3.51% to an intraday high of ₹1,564.50 on the National Stock Exchange and was trading about 2.67% higher at ₹1,511.90 in late morning deals.
The agreement was signed through Adani’s subsidiary, Adani Gangavaram Port Ltd, during the India–Brazil Business Forum in New Delhi. The event took place during the visit of Brazilian President Luiz Inácio Lula da Silva and was attended by India’s Commerce Minister Piyush Goyal, highlighting that trade between the two countries is growing.
Under the MoU, the partners will develop an iron ore blending facility and a dedicated Special Economic Zone at Gangavaram Port. The project will create an integrated ecosystem covering storage, blending, value addition, and export of iron ore. It will also include fully mechanised cargo-handling systems and infrastructure capable of receiving Valemax vessels, the world’s largest ore carriers, with a capacity of up to 400,000 tonnes.
The company said the project will improve supply chain efficiency through modern yard management, faster loading and unloading, and better logistics. Once completed, Gangavaram Port’s capacity is expected to rise to 75 million metric tonnes, strengthening its position as a key iron ore export hub on India’s east coast.
Chief Executive Ashwani Gupta said the partnership will help build future-ready infrastructure and support India’s role in global mineral supply chains. He added that the port could become the first in India to handle Valemax vessels, boosting scale and competitiveness.
Adani Ports said the initiative will support industrial growth, improve export efficiency and contribute to the country’s economic development. The company currently has a market capitalisation of about ₹3.57 lakh crore, reflecting strong investor interest in its expanding logistics and port operations.