Mundra SEZ to have 175 mn tonne cargo handling capacity

Adani Group-owned Mundra Port and Special Economic Zone (MPSEZ) is on an expansion spree. It is looking to have 175 million tonne of cargo handling capacity in the next three years from 70 MT currently. The expansion projects will be funded through internal accruals and debt.

MPSEZ is in the final stages of designing blue prints for its expansion projects at an investment of about Rs2,000-crore. It is also exploring opportunities to set up port facilities on east and south shores of the country.

MPSEZ registered a total income of Rs1,424-crore, a growth of 21 per cent, for the year ended March 31 compared with Rs 1,179 crore last year. On a consolidated basis the growth was 23 per cent with revenues at Rs1,528-crore. The net profit rose 52 per cent to Rs701-crore for the financial year 2009-10 as against Rs 461 crore last year.

With the new ports being develop at Mormugao and Hazira, MPSEZ would add another 40-50 million tonne by 2013, thus aggregating about 175 million tonnes by 2013.