- Adani Ports and Special Economic Zone Limited (APSEZ) announces expansion into the Philippines during a meeting with President Ferdinand R Marcos Jr.
- APSEZ eyes Bataan for the development of a 25-meter-deep port capable of accommodating Panamax vessels, exploring opportunities in ports handling agricultural products.
- The company reports a significant increase in consolidated net profit and plans a capex of Rs 10,500-11,500 crore for FY25.
Adani Ports and Special Economic Zone Limited (APSEZ) is set to expand its operations to the Philippines, aiming to develop a port in Bataan. This move comes after Karan Adani, Managing Director of APSEZ, discussed the company’s expansion plans during a meeting with President Ferdinand R Marcos Jr. in Malacañang. APSEZ is eyeing Bataan for the development of a 25-meter-deep port, signaling its interest in enhancing port infrastructure to accommodate larger vessels, particularly Panamax ships. Moreover, the company is exploring opportunities in handling agricultural products, aligning with President Marcos’s vision to bolster the Philippines’ competitiveness in global trade.
Amidst its expansion plans, APSEZ reported a substantial increase in consolidated net profit for the fourth quarter ended March 2024, with a 76.87 percent jump to Rs 2,014.77 crore. The company’s robust financial performance is reflected in its consolidated total income, which rose to Rs 7,199.94 crore for the same period. Looking ahead, APSEZ has earmarked a significant capex of Rs 10,500-11,500 crore for FY25, anticipating cargo volumes of about 460-480 MMT. Additionally, the company expects revenue of Rs 29,000-31,000 crore for FY25, with an EBITDA of Rs 17,000-18,000 crore, underscoring its ambitious growth trajectory in the logistics sector.
