Adani Ports places order for 8 Tugs for Rs 450 crore to be constructed by Cochin

Adani Ports and Special Economic Zone Ltd (APSEZ) has made a significant move in enhancing its maritime capabilities. On Friday, the company announced the procurement of eight advanced harbour tugs from Cochin Shipyard Ltd. This deal is valued at approximately Rs 450 crore. The delivery of these tugs is expected to commence in December 2026 and continue until May 2028. This initiative not only strengthens APSEZ’s operational capacity but also aligns with the Indian government’s objectives of promoting local manufacturing through the Make in India and Aatmanirbhar Bharat initiatives.

Commitment to Local Manufacturing

The decision to procure these tugs from Cochin Shipyard Ltd reflects APSEZ’s commitment to bolstering local manufacturing. Ashwani Gupta, the Whole-time Director and CEO of APSEZ, emphasized the importance of this collaboration. He stated that it signifies a strong commitment to enhancing maritime infrastructure in India. By choosing to work with a public sector undertaking (PSU), APSEZ is not only supporting local industry but also ensuring that its operations adhere to international safety and efficiency standards.

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This initiative is a part of a broader strategy to enhance self-reliance in the maritime sector. The government has been actively promoting local manufacturing to reduce dependency on imports. By investing in domestic capabilities, APSEZ aims to contribute to the national economy while ensuring that its operations are efficient and safe. The construction of these tugs will create jobs and stimulate economic growth in the region, further supporting the government’s vision of a self-sufficient India.

Previous Success and Future Prospects

APSEZ has a proven track record with Cochin Shipyard Ltd. Previously, the company contracted the construction of two 62-tonne bollard pull Azimuthing Stern Drive (ASD) tugs, which were delivered ahead of schedule. These tugs are currently operational at Paradeep Port and New Mangalore Port. Additionally, three more ASD tugs are under construction, bringing the total order to 13 tugs. This successful partnership highlights the reliability and efficiency of Cochin Shipyard Ltd in delivering high-quality maritime solutions.

Financially, APSEZ is also performing well. In October, the company reported a profit of Rs 2,445 crore for the fiscal second quarter, marking a 40% increase compared to the same period last year. Revenue from operations reached Rs 7,067 crore, up 6% from Rs 6,646 crore in Q2 FY24. This growth indicates a strong demand for APSEZ’s services and a positive outlook for the company’s future endeavors in the maritime sector. As APSEZ continues to expand its fleet and capabilities, it is well-positioned to play a pivotal role in India’s maritime industry.