Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday announced the procurement of eight state-of-the-art harbour tugs, all to be constructed by Cochin Shipyard Ltd. The total contract value, it added, is estimated at Rs 450 crore and these tugs are expected to begin delivery in December 2026 and continue until May 2028.
The initiative aligns with the government’s Make in India and Aatmanirbhar Bharat initiatives by boosting local manufacturing and enhancing self reliance in the maritime sector.
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Ashwani Gupta, Whole-time Director & CEO of Adani Ports and Special Economic Zone Limited (APSEZ), said, “This collaboration to procure from Cochin Shipyard Ltd signifies our commitment to enhancing maritime infrastructure in India and demonstrates our confidence in our nation’s PSUs. By leveraging local manufacturing capabilities, which are world-class, we aim to contribute to the ‘Make in India’ initiative while ensuring that our operations meet international standards of safety and efficiency.”
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Previously, APSEZ contracted the construction of two 62-tonne bollard pull ASD (Azimuthing Stern Drive) tugs to Cochin Shipyard Ltd for Ocean Sparkle Ltd, both of which were delivered ahead of schedule and deployed at Paradeep Port and New Mangalore Port. The construction of three additional ASD tugs is currently underway, bringing the total order to 13 tugs.
Earlier in October, APSEZ had released its fiscal second quarter earnings with profit at Rs 2,445 crore, posting a growth of 40 per cent on-year from Rs 1,748 crore recorded during the same period of previous financial year. The company had posted revenue from operations at Rs 7,067 crore, up 6 per cent in comparison to Rs 6,646 crore in Q2FY24.
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