Adani Krishnapatnam Port Set to Import Petroleum Until 2026

The Adani Krishnapatnam Port in Andhra Pradesh has been granted permission to import petroleum into India until March 1, 2026. This initiative is sanctioned by the Ministry of Ports, Shipping and Waterways, with operations scheduled from August 2024. The decision is in line with public interest considerations.

The Adani Krishnapatnam Port in Andhra Pradesh has received government clearance to import petroleum into India until March 1, 2026. This authorization, from the Ministry of Ports, Shipping and Waterways, enables the port to commence petroleum imports by sea starting August 28, 2024.

This strategic decision aims to serve public interest and underscores the port's significant role in boosting India's import capacity, given its status as an all-weather, deep-water facility on the country's East Coast. This development could bolster economic activity in the region.

Owned and managed by Adani Ports and Special Economic Zone Limited, the port's market implications were evident as Adani Ports & SEZ shares rose by 0.56%, reaching Rs 1,267.30 on the BSE during the pre-close session.

(With inputs from agencies.)