Adani Enterprises Ltd.

Adani Enterprises (AEL), India’s largest coal importer and part of the Adani Group is likely to add 17 more ships to its current fleet by 2020. It aims to spend close to Rs 3,400 crore for adding these ships.

Recently AEL has acquired one more ship for ferrying fuel from its overseas coal mines. It aims to buy at least 2 ships every year for the next eight years. Investment of about Rs 200 crore or nearly $40 million is required to buy a capesize vessel, which is mainly used in the import and export of coal.

The company has fixed out an ambitious plan for the next eight years. It aims at mining as much as 200 million tonnes of coal, achieve a cargo handling capacity of 200 million tonnes, produce 20,000 MW electricity, besides buying 17 more ships by 2020. The group operates ports at Mundra, Dahej, Hazira (Gujarat), coal berths in Goa and Visakhapatnam, and a coal terminal in Abbot Point in Australia.