Adani Ports and Special Economic Zone Ltd (APSEZ), India's largest integrated transport utility company, is pleased to announce the procurement of eight state-of-the-art harbour tugs, all to be constructed by Cochin Shipyard Ltd. This initiative aligns with the government's Make in India and Aatmanirbhar Bharat initiatives by boosting local manufacturing and enhancing selfreliance in the maritime sector.
With a total contract value estimated at INR 450 Crore, these tugs are expected to begin delivery in December 2026 and continue until May 2028, significantly improving the efficiency and safety of vessel operations in Indian ports.
Mr. Ashwani Gupta, Whole-time Director & CEO of Adani Ports and Special Economic Zone Limited (APSEZ) stated "This collaboration to procure from Cochin Shipyard Ltd signifies our commitment to enhancing maritime infrastructure in India and demonstrates our confidence in our nation's PSUs. By leveraging local manufacturing capabilities, which are world-class, we aim to contribute to the 'Make in India' initiative while ensuring that our operations meet international standards of safety and efficiency."
Previously, APSEZ contracted the construction of two 62-tonne bollard pull ASD (Azimuthing Stern Drive) tugs to Cochin Shipyard Ltd for Ocean Sparkle Ltd, both of which were delivered ahead of schedule and deployed at Paradeep Port and New Mangalore Port. The construction of three additional ASD tugs is currently underway, bringing the total order to 13 tugs, aimed at providing a younger fleet for efficient and reliable services in the port sector.
This initiative underscores the importance of sustainable practices in shipbuilding and reinforces the strategic significance of the maritime industry in India's economic growth.
Shares of Adani Ports and Special Economic Zone Limited was last trading in BSE at Rs. 1230.75 as compared to the previous close of Rs. 1243.90. The total number of shares traded during the day was 94142 in over 5773 trades.
The stock hit an intraday high of Rs. 1253.60 and intraday low of 1226.25. The net turnover during the day was Rs. 116720904.00. |
