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Adani Ports and Special Economic Zone (APSEZ), India’s leading private port operator, is looking to expand its operations into the Philippines by developing a deep port in Bataan. This move is part of APSEZ’s broader investment strategy, which includes ventures into ports, airports, power, and defence sectors.
During a meeting with President Ferdinand R Marcos Jr at Malacañang, APSEZ managing director Karan Adani expressed the company’s interest in operating within a stable and conducive regulatory environment. Adani emphasized the importance of stability in regulations and operating environments for private sector investments.
The proposed port development project in Bataan aims to create a 25-meter-deep port capable of accommodating Panamax vessels. This strategic location could significantly enhance trade and logistics capabilities in the region.
President Marcos advised starting with regional operations, focusing on serving local and domestic shipping needs initially before expanding into international markets. This phased approach aligns with Adani Ports’ long-term growth strategy.
In addition to its plans for the Philippines, Adani Group is also eyeing investments in various sectors, including ports, airports, power, and defence. This diversification reflects the company’s commitment to exploring new opportunities and contributing to economic development across different industries.
The news of Adani Ports’ expansion comes on the heels of its impressive financial performance in the fourth quarter. The company reported a substantial 76% increase in profit, driven by record cargo volumes and robust business activities.
Adani Ports handled a record 10.9 crore metric tonnes (MMT) of cargo in the January-March period, leading to a significant revenue boost of 19%. These strong financial results underscore the company’s resilience and growth potential in the maritime and logistics sectors.
APSEZ currently operates at 13 ports and terminals across India, including Mundra, the country’s largest container handling port located in Gujarat. This expansion into the Philippines signifies APSEZ’s strategic vision for global expansion and enhancing its presence in key international markets.
Sources By Agencies
