Adani Ports and Special Economic Zone Ltd (APSEZ) is in focus after securing a 10-year marine services contract for Argentina’s first liquefied natural gas (LNG) export project.
The contract marks the company’s entry into South America and expands its international marine operations.
Shares of APSEZ rose as much as 0.24% during the session to ₹1,827.50, compared with the previous close of ₹1,823.10. The company has a market capitalisation of ₹4.19 lakh crore.
Contract awarded through consortium
The contract was awarded to The Adani Harbour International FZCO, a step-down subsidiary of APSEZ.
It will execute the project through a consortium with Argentina’s Meridian Group, following a global tender floated by Southern Energy S.A. (SESA).
The project carries an estimated investment commitment of around $70 million.
Under the agreement, the Adani-Meridian consortium will provide:
- Tugboat operations for LNG carriers
- Offshore logistics and supply support
- Crew transfer services
The operation will deploy:
- Four high-specification tugboats
- One anchor handling tug supply vessel
- One crew boat
Argentina-India LNG corridor
Argentina has agreements to supply up to 10 million tonnes of LNG annually to India from 2027.
The Southern Energy project is expected to support this emerging energy trade route.
About the LNG project
The project is being developed by Southern Energy S.A., a joint venture between Golar LNG and Pan American Energy.
Located in the San Matías Gulf in Río Negro Province, the project will use the floating LNG vessel Hilli Episeyo to process gas supplied through the General San Martín pipeline.
Commercial operations are expected to begin in September 2027.
In the first phase, the project is expected to produce:
- 2.45 million tonnes of LNG annually
- Around 28 cargoes a year
Execution will be carried out through Meridian Transportes Marítimos S.A., a 51:49 joint venture involving Adani Harbour.
CEO comments
Ashwani Gupta, Whole-time Director and Chief Executive Officer of APSEZ, said the contract reflects the company’s growing capability to support large-scale energy infrastructure projects.
He said APSEZ currently operates marine services in 12 countries and has a fleet serving ports, LNG terminals, refineries and offshore facilities.
According to Gupta, the company’s experience and local partnerships are helping create maritime ecosystems that support new energy trade routes.
Financial performance
For the quarter ended March 2026, APSEZ reported:
- Revenue of ₹10,738 crore, up 26.5% from ₹8,488 crore a year earlier
- Net profit of ₹3,308 crore, compared with ₹3,023 crore in March 2025
Other key metrics include:
- ROCE: 14.1%
- ROE: 16.4%
- Debt-to-equity ratio: 0.66
Over the last five years, the company has recorded a 21% compound annual growth in profit. Median sales growth over the past decade stood at 20.3%.
Operations
APSEZ, part of the Adani Group, operates an integrated transport and logistics network.
Its assets include:
- 15 ports and terminals in India
- A marine fleet of 129 vessels
- 12 multi-modal logistics parks
- Warehousing space of 3.1 million sq. ft.
- More than 25,000 trucks on its logistics platform
The company also operates four international ports in:
- Australia
- Colombo
- Israel
- Tanzania
APSEZ currently has cargo handling capacity of 653 million tonnes per annum and handles roughly 27% of India’s port volumes. It is targeting throughput of 1 billion tonnes by 2030.
TL;DR
Adani Ports has won a 10-year contract for marine services for Argentina’s first LNG export project. The deal, secured through a consortium with Meridian Group, marks the company’s entry into South America and supports LNG exports expected to begin in 2027.
AI Summary
- APSEZ secured a 10-year marine services contract in Argentina.
- The project marks the company’s entry into South America.
- The Adani-Meridian consortium will support Southern Energy’s LNG project.
- LNG exports are expected to start in September 2027.
- APSEZ reported 26.5% growth in revenue for the March 2026 quarter.