Adani Group has announced that it will merge all its current railway assets into one single entity. The 6 assets will be brought under the Adani Tracks Management Systems (ATMS), which will be an extended arm of Adani Ports and Special Economic Zone (APSEZ).
The current railway network under APSEZ is 690 km and is expected to be 2000 km by 2025. This move by the port and logistics giant will help the company grow its scale and further invest in larger projects. According to the group, this will avoid competition with similar businesses in the Adani portfolio.
“Indian Railways will invest more than $40.5bn over the next 10 years to construct new rail lines. The government’s shift in focus from the road to rail as the preferred mode of transport, an obvious choice both economically and environmentally, will require significant participation by the private sector,” said Karan Adani, CEO of APSEZ.
Adani’s current railway portfolio consists of public-private partnerships and acquisitions. These holdings include 20 per cent in the Kutch railways (track length of 301 km), Krishna Patnam Rail Company (track length of 113 km). The Krishna Patnam port acquired by Adani in Andhra Pradesh is the second-largest private sector port in the country.
APSEZ has also started three new rail connections, Kattupalli to Ennore (track length of 6 km), Dighi to Roha (track length of 34 km), Hazira to Gothangam (track length of 36.5 km). These new additions will bring the total rail length owned by Adani to 767 km.
It also unveiled the deal to acquire the 72 km Sarguja rail corridor in March last year to own a controlling stake in Gangavaram port. Adani has a network of a total of 12 fully functional ports and one under construction at the Vizhinjam site.
Last year, the company also signed an agreement with John Keells Holdings and the Sri Lanka Ports Authority (SLPA) to jointly develop the Colombo West International Container Terminal (CWICT) at Colombo, Sri Lanka. The Adani group will own 51 per cent stakes of the project.
The Dream11 Saga: Legal Battles and Tax Controversies in India’s Online Gaming Industry
boAt and BookMyShow Navigate Troubled Waters Amidst Rapper Shubh Controversy
Will Torrent Pharmaceuticals Acquire Cipla? Is the Indian Pharma Giant in Financial Trouble?
Tata Nexon Facelift Unveiled: A Game-Changer in the Compact SUV Segment
Royal Enfield: The Regal Journey of Luxury Motorcycles
Physics Wallah Edtech: A Revolutionary Success Story
From YouTube to Billion-Dollar Valuation: Explore how Physics Wallah transformed India's EdTech landscape with affordable education.
Ola Electric Temasek Fundraise: Ola Electric Mobility Pvt Ltd Receives $140 Million Boost from Temasek to Accelerate Growth
Snitch, a fashion label for Men’s wear, records ARR of a whopping 100 crores in Q4 of FY’22
D2C fashion brand Snitch attracts an annual return of Rs. 100 crores within 2 years of its inception, aims to become India’s biggest fashion brand for men.
MediBuddy Secures $18 Million in Funding for Expansion and Acquisitions
Viacom18 Secures TV and Digital Rights for Indian Cricket Team’s Home Matches: A Game-Changer for Cricket Broadcasting
Latest6 months ago
Ola S1 Electric Scooter: Everything You Need to Know About the Recall
Analysis5 months ago
Aryan Khan’s clothing collection D’Yavol X: The Devilishly Luxurious collection sold out in a day even with whopping prices!
News7 months ago
ReviewAdda By Rahul Jain: Helping Students Navigate Confusing Admission Processes at Private Universities
Analysis6 months ago
UpGrad vs Eruditus: Contrasting revenues in FY22
Analysis6 months ago
Yulu Revolutionizes Urban Transportation in India with Strategic Partners
Stories5 months ago
BlissClub Founder Minu Margeret: Bringing Inclusivity in Activewear
News5 months ago
Reliance, Circle E Retail in Joint Venture to Aid Hamleys and Rowan Toy manufacturing
Stories5 months ago
Nestle’s Rural Marketing strategy: Expansion in the rural landscape amid boom in business