New Delhi, Dec 9 The Ministry of Ports, Shipping and Waterways has extended the permission given to the Adani Group’s Krishnapatnam Port in Andhra Pradesh for importing petroleum through the sea route till March 1, 2026.
The government order states that the Central Government “in consideration of the necessity to import petroleum in public interest, hereby extends the notification for Krishnapatnam Port (Adani Krishnpatnam Port Ltd) in Andhra Pradesh for importing petroleum into India by sea in accordance with operations permitted in Navigational Safety at Ports Committee certificate for the period August 25, 2024 to March 1, 2026.”
Shares of Adani Ports and Special Economic Zones (APSEZ) gained more than 1 per cent on Monday due to the permission given to the company to continue petroleum imports till 2026.
Adani Krishnapatnam Port had, in August this year, launched an advanced cargo handling system to enhance its existing capacity and productivity.
The new systems will streamline the management of both containerised and bulk cargo and are set to revolutionise cargo operations at the port and deliver efficiency and reliability, the private port operator said in a statement, the Adani Group had announced.
The new cargo handling system uses advanced technology to boost efficiency and cargo throughput with key features such as automated tracking, real-time data analysis, and improved logistics coordination, enhancing speed, accuracy, safety, and reducing costs, according to a company statement.
Krishnapatnam Port is a key player in India's maritime trade, handling a significant portion of the country's cargo traffic. The introduction of this advanced system is a strategic move by Adani Ports and Special Economic Zone Ltd. (APSEZ) to maintain its competitive edge.
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