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Adani Group plans to expand its share in the ship-fuelling market by leveraging the ports it has on India’s east and west coast.
The idea is to use its ports to fuel the ships passing through the country, taking away business from ports at Fujairah, Dubai and Singapore, and expanding the 1 million tonne (mt) Indian bunkering market valued at Rs4,000 crore to 3.5mt by 2020.
Adani Enterprises Ltd, which already boasts a 40% share of the business in India, wants to add one location a year for the bunkering business, said Vinay Prakash Goel, chief executive officer, trading and mining.
“Singapore accounts for a substantive share of the global bunker market due to its geographical location and facilities offered. For Indian bunker market to compete, we need infrastructure at the ports,” said Goel.
“To start with, Mundra will be a thrust for creating infrastructure for bunkering business followed by Hazira, Dhamra and Vizhinjam,” Goel said.
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