Adani Vizag Coal Terminal Private Ltd, a subsidiary of APSEZ, won the tender process on 22 March 2011.
Adani developed this coal import terminal on a design, build, finance, operate and transfer basis for Visakhapatnam Port Trust.
Karan Adan, executive Director of APSEZ, said:
This is a proud moment for the Group for setting a record in completion of the Adani Vizag steam coal terminal project eight months ahead of schedule. The facilities created at the port can handle steam coal volumes of up to 9 million tonnes. The Visakhapatnam port is strategic for coal imports to feed the local industries and power plants of the states of Andhra Pradesh, Odisha, Chhattisgarh and Maharashtra.This development again reiterates Adani's commitment for setting up world class port infrastructure in the country.
APSEZ also operates ports in Mundra, Hazira and Dahej, in Gujarat and is setting up coal handling facilities in Mormugao in Goa and at Kandla in Gujarat.
Vizag, which handled 40M tonnes in the financial year ending 31 March 2013, has eight projects on hand in the Public Private Partnership model at a total cost of Rs32 billion (US$515 million).
They will add 82M tonnes capacity, enabling the port to handle about 150M tonnes of cargo by 2020. Among these projects is the extension of the container terminal at the outer harbour at a cost of Rs6 billion (US$97 million).