Adani finds mine-development contracts more promising than trading


Adani finds mine-development contracts more promising than trading

Adani Group built its fortunes by starting as a commodity trading company. But, Adani Enterprises — the flagship company of the three-decade-old trading group — now sees mine-development contracts as more promising than trading.

“As we grew, we also looked at how to best utilise our capabilities. Our mine development and operation (MDO) business is growing faster than trading,” said Jugeshinder Singh, chief financial officer, Adani Enterprises. He expected the company’s bulk handling to be higher from the MDO contracts, compared to trading.

In 2006, Adani Enterprises was awarded its first MDO contract. At present, Adani Enterprises is India’s largest MDO operator. The company has one fully operational MDO; two more MDOs have started and another seven are under development. “One of the seven will start operations in the next financial year,” Singh said. Read More

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