'In public interest...': Adani’s Krishnapatnam Port gets petroleum import approval from Centre

The Ministry of Ports, Shipping, and Waterways has extended its approval for petroleum imports at Adani Krishnapatnam Port in Andhra Pradesh. The decision allows the port to continue its operations under the Navigational Safety at Ports Committee (NSPC) certificate, ensuring compliance with safety and operational standards.

Adani Krishnapatnam Port has been steadily advancing its infrastructure. In August, the port unveiled an advanced cargo handling system aimed at boosting efficiency and throughput. Featuring automated tracking, real-time data analysis, and improved logistics coordination, the system promises to streamline containerized and bulk cargo management, reducing costs and enhancing accuracy and safety.

This development comes at a time Nomura has given a positive outlook on the Adani Group, labeling it as one of the "most attractive" Indian corporates. 

Despite recent turbulence stemming from allegations in a U.S. Department of Justice indictment, Nomura remains confident in the conglomerate’s resilience. The research firm highlighted Adani’s improved liquidity management and dismissed concerns over promoter share pledges, noting effective risk handling even during volatile market periods.

Nomura also downplayed concerns about global banks halting financial support for Adani companies, expecting the issue to resolve post-DoJ allegations. Additionally, major Japanese banks reportedly plan to maintain their ties with the group, a testament to its financial stability and growth potential.

As Krishnapatnam Port focuses on petroleum imports and state-of-the-art cargo handling, it positions itself as a vital hub in India’s logistics and trade network.