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Adani Ports and Special Economic Zone (APSEZ) crossed 300 million metric tonne (MMT) of cargo handling on Thursday. The company crossed the cargo handling in just 329 days. APSEZ has registered growth since it started operations over two decades ago and continues to outperform all India cargo volume growth, with its market share rising rapidly, the company said in a statement. "APSEZ's flagship port, Mundra, is outpacing all its closest rivals by comfortable margins and continues to be the largest port in the nation in terms of volumes handled," APSEZ CEO and Whole Time Director Karan Adani said. APSEZ, a part of Adani Group, has evolved from a port company to an integrated transport utility providing an end-to-end solution from its port gate to customer gate.
T E NarasimhanThe Governemnt of Kerala has said that it is analysing the request of Adani Group to review an earlier decision on imposing a penalty on the company for allegedly not complying with the project schedule as per the agreement. It has also said that the government, through the Vizhinjam International Seaport Ltd (VISL), has wrote a letter to the Adani Group refusing its request for more time to complete the project, said Ramachandran Kadannappally, Minister for Ports, Museums, Archaeology and Archives. Adani Group has earlier informed the government that the project could take 16 months more than what was expected, owing to the damages caused by the Ockhi cyclone in November, 2017.As per the concession agreement between the government and the company, the Rs 75.25 billion project is scheduled to be completed by December 4, 2019. However, the company said that the cyclone Ockhi occured on November 30, 2017 has damaged various equipment and construction activities in the ...