Adani Ports and Special Economic Zone (APSEZ) shares climbed around 3% after the company signed a tripartite memorandum of understanding with state miner NMDC and Brazil’s Vale S.A. to develop an integrated iron ore hub at Gangavaram Port on India’s east coast.
Under the MoU, the partners will create an iron ore blending facility and a dedicated Special Economic Zone (SEZ) at Gangavaram, building an SEZ-based ecosystem for blending, value addition and commercialisation of iron ore destined for global markets. The project is aimed at strengthening the iron ore export value chain on the east coast, improving efficiency, scale and competitiveness in mineral processing and trade.
The planned development is expected to lift Gangavaram Port’s capacity to about 75 million tonnes per annum, positioning it as a key iron ore export hub for India and the wider region. APSEZ CEO Ashwani Gupta said the collaboration underscores a shared commitment to building future-ready infrastructure that bolsters India’s role in global supply chains by integrating high-quality mineral logistics with advanced port capabilities.
