Who owns Mundra port?
- Mundra port is India’s largest private port
- It is located on the north shores of the Gulf of Kutch in Gujarat
- It has been given the status of a Special Economic Zone
Nearly three tonnes of heroin from Afghanistan was seized at the Mundra port in Gujarat, officials said on Monday. The Directorate of Revenue Intelligence (DRI) said it seized 2988.219 kg of heroin worth over Rs 15,000 crore, PTI reported. The consignment had been imported by a Vijaywada, Andhra Pradesh-based trading company as semi-processed talc stones.
Mundra Port is India’s largest private port. It is located on the north shores of the Gulf of Kutch in Gujarat. The infrastructural marvel is one of India’s biggest economic gateways. It is an all-weather port and has the largest coal import terminal which gives way to rapid cargo evacuation. Previously known as Adani Ports and Special Economic Zone Ltd, it was incorporated as Gujarat Adani Port Ltd (GAPL) in 1998.
The Adani group is among India’s largest business conglomerates. In April 2021, the group became the third Indian conglomerate to cross the $100 billion mark in market capitalization. As on September 21, 2021 they had a market cap of $116.79 billion (as per adani.com) comprising of six publicly traded companies.
They commenced their journey to a multi-billion-dollar enterprise in 1988 as a commodity trading firm. The group was quick to diversify into the import and export of multi-basket commodities. Their listed companies include Adani Enterprises, Adani Green Energy, Adani Ports and SEZ, Adani Power, Adani Transmission and Adani Total Gas.
The group has a man power of over 17,000 professionals working in various fields. The face of it all is Gautam Adani who serves as the Chairman of Adani Group. Rajesh Adani serves as the Managing Director while Dr. Priti Adani serves as Chairperson of the Adani foundation.
They developed the Mundra port in 1990 in order to provide a base for their trading operation. It is located at an ideal position and is easily accessible by the Middle Eastern, Western and African markets. Furthermore, it has good connectivity to major industrial destinations such as Delhi, Rajasthan, Haryana and Madhya Pradesh.
Mundra Port has been given the status of a Special Economic Zone (SEZ). It is an area with different business and trade laws from the rest of the country. It allows a company to produce at trade goods at a lower price. They are duty-free enclaves where the national custom laws do not apply.