Adani Ports Targets 5 Million TEUs At Vizhinjam By 2028, Says Karan Adani

Adani Ports & Special Economic Zone Ltd. is targeting a throughput of 5 million twenty-foot equivalent units (TEUs) at Vizhinjam International Seaport by 2028, Managing Director Karan Adani said at the port’s inauguration in Kerala.

Adani said the company aims to reach 90% utilisation with a 70% margin on the current shipping cost of $40 per container. The company is also working to reduce ship turnaround time. As part of phase two, the breakwater will be extended by 900 metres and the berth will be lengthened by 1,200 metres.

A TEU, or twenty-foot equivalent unit, is a standard measure of container capacity based on a 20-foot-long container. One 40-foot container equals two TEUs.

The statement came after Prime Minister Narendra Modi inaugurated the Vizhinjam port on Friday, India’s first deep-water container transshipment and semi-automated facility, developed under a public-private partnership between Adani Ports and the government. “This port will be a game changer for India’s maritime economy,” Modi said at the event in Thiruvananthapuram.

Adani said shifting global manufacturing to India is boosting exports, and that the company’s goal is to lower shipping costs for Indian traders. “Once that happens, volumes will follow,” he added.

On global trade disruptions, Adani said, “It is a misnomer that due to the trade war we believe that we are facing depression. Other countries might be, but India is a sweet spot.”