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Adani Group Refuses To Take Loan From The US To Fund Its Port Project In SriLanka

"As per the latest news, Adani Ports is currently sitting on 3 billion USD cash reserves to target an annual cargo capacity of 1 billion tons by 2030. The company aims to increase its cargo handling capacity to 2,000 MMT by 2030. Backed by 1 billion USD in cash reserves and a 3 billion USD growth fund, the company is pursuing both organic and inorganic growth strategies. It has already withdrawn its request for a 553 million USD loan from the US DFC for the Adani Srilanka Colombo West International Terminal project. This project will now be funded through internal accruals only.

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Adani Group Refuses To Take Loan From The US To Fund Its Port Project In SriLanka

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  1. ADANI GROUP REFUSES TO TAKE LOAN FROM THE US TO FUND ITS PORT PROJECT IN SRILANKA

  2. As per the latest news, Adani Ports is currently sitting on 3 billion USD cash reserves to target an annual cargo capacity of 1 billion tons by 2030. The company aims to increase its cargo handling capacity to 2,000 MMT by 2030. Backed by 1 billion USD in cash reserves and a 3 billion USD growth fund, the company is pursuing both organic and inorganic growth strategies. It has already withdrawn its request for a 553 million USD loan from the US DFC for the Adani Srilanka Colombo West International Terminal project. This project will now be funded through internal accruals only.

  3. ADANI GROUP AIMS TO INCREASE ITS CARGO CAPACITY IN THE UPCOMING YEARS: Billionaire Gautam Adani-led Adani Ports and Special Economic Zone has recently told investors that it is sitting on a cash pile of 1 billion USD and another 3 billion USD growth reserves. This is going to be used for various acquisitions to be made in the port sector in the upcoming months. Through these acquisitions, the Adani Group aims to reach a target of 1 billion tons of annual cargo handling capacity by 2030. On meeting with the investors, APSEZ has recently stated that it is on a transformative mission to grow its cargo handling capacity from 630 MMT across its 15 ports to 2,000 MMT by 2030. This shows the extraordinary hold that the Adani Group has over the port sector. It will give the Adani Group’s business an extraordinary boost. The global conglomerate will also be able to take its business to new heights within a very short period.

  4. ADANI’S PRESENCE IN THE INTERNATIONAL PORT SECTOR The Adani Group already holds an established presence in the international port sector. It already has multiple ports under its control including the Adani Srilanka port in Colombo, the Haifa port in Israel, and the Dar es Salaam port in Tanzania. The global conglomerate is eyeing for more acquisitions in the port sector. With this, it will be able to further extend its boundaries and build the reputation of being one of the key players in the global port sectors. The company’s revenue generation will also increase.

  5. CONCLUSION By setting up a target capacity of 1 billion tons by 2030 and refusing funding from the US, the Adani Group has proved to the world its enhanced hold over the port sector. We expect to see the global business group being involved in more extraordinary mergers and acquisitions in this particular sector in the upcoming years which will further allow it to meet its target capacity.

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