Adani Group to invest another Rs 42,500 cr. in Dighi Port

The Adani Group has committed to invest another Rs 42,500 crore in the Dighi Port project in the coastal Konkan belt of Maharashtra, government officials said this week.

The Group’s flagship entity Adani Ports and Special Economic Zone (APSEZ)-run Dighi Port signed a Memorandum of Understanding (MoU) with the Maharashtra Government to invest the amount for expansion of the port and related activities, an official said.

Exact details of the fresh commitment were not immediately known, as per a report.

The Group had taken over the bankrupt Dighi Port project in 2021 by putting a winning bid of Rs 705 crore, and committed to invest another Rs 10,000 crore for expansion at that time.

The agreement also entails developing a large industrial area around the port along with the central government.

Besides, the JSW Group has committed to invest Rs 3,709 crore to expand its facility at Jaigarh Port, Maharashtra Chief Minister Devendra Fadnavis said, specifying that the expansion activities at ports along the state’s 700-km coastline will help in the broader cause of integrating with global supply chains.

A government official said the Chowgule Group has made a commitment to invest Rs 5,000 crore in shipbuilding and repairs of ships and rigs.

Additionally, Synergy Shipbuilders has committed to invest Rs 1,000 crore towards similar activities through an agreement, he informed.

Goa Shipyard will also be investing Rs 2,000 crore for shipbuilding, repair and reuse, the official added.

Please visit our youtube channel https://www.youtube.com/@ikargos2719 for fortnightly logistics news analysis and more!