Indian Port Unveils $1.3bn Expansion Plan

11 August 2010 (Last Updated August 11th, 2010 18:30)

Adani Group will invest INR60bn ($1.2bn) over the next three to five years in Mundra Port and Special Economic Zone (MPSEZ) in India. The company said it is planning to handle 200 million tons of cargo by 2020. During the second quarter, Mundra Port's container business rose 2

Adani Group will invest INR60bn ($1.2bn) over the next three to five years in Mundra Port and Special Economic Zone (MPSEZ) in India.

The company said it is planning to handle 200 million tons of cargo by 2020.

During the second quarter, Mundra Port’s container business rose 28% and it handled 12.6 million tons of cargo.

MPSEZ reported a net profit of INR2.1bn ($45m) for the quarter ended 30 June compared with INR1.7bn ($36m) during the corresponding quarter a year ago, according to economicstimes.com.