Adani Ports Invests ₹13,000 Crore for European Subsea Expansion
Adani Ports bets Rs 13,000 crore by FY31 for Europe subsea expansion
The Economic TimesImage: The Economic Times
Adani Ports and Special Economic Zone (APSEZ) is investing ₹13,000 crore (approximately $1.6 billion USD) by FY31 to expand its subsea operations in Europe through a partnership with Oceaneering International. The initiative aims to develop a 200-vessel marine fleet and generate marine revenue of ₹6,000 crore (around $720 million USD) by FY31.
- 01APSEZ plans to invest ₹13,000 crore by FY31 for European subsea expansion.
- 02The partnership with Oceaneering International focuses on offshore logistics and underwater engineering.
- 03Astro Offshore has acquired a new multipurpose support vessel, Astro Atlas, for complex offshore projects.
- 04The company aims to achieve marine revenue of ₹6,000 crore by FY31.
- 05This expansion marks APSEZ's entry into specialized subsea operations in Europe.
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Adani Ports and Special Economic Zone (APSEZ) announced a significant investment of ₹13,000 crore (approximately $1.6 billion USD) to expand its subsea operations in Europe, in collaboration with the US-based engineering firm Oceaneering International. This initiative aims to build a 200-vessel global marine fleet and is part of APSEZ's strategy to establish one of the world's largest integrated marine platforms, focusing on offshore logistics, underwater engineering, and deepwater infrastructure services. As part of this expansion, Astro Offshore, a Dubai-based subsidiary, has acquired the Astro Atlas, a 97-metre DP2 multipurpose support vessel capable of operating in ultra-deepwater environments. This vessel will facilitate subsea construction, cable laying, and pipeline installation in water depths exceeding 3,000 metres. APSEZ is targeting marine revenue of ₹6,000 crore (around $720 million USD) by FY31 from its offshore business portfolio, emphasizing the importance of subsea operations for offshore energy and marine infrastructure projects.
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This investment could create jobs in the marine and offshore sectors, boosting local economies in both India and Europe.
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