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Indian Billionaire Adani Eyes South China Sea Port in the Philippines
Indian Billionaire Adani Eyes South China Sea Port in the Philippines
Sputnik India
Indian ports-to-mining billionaire conglomerate Adani Enterprises has expressed an interest to acquire and develop the port of Bataan in the Philippines, according to a statement by Presidential Communications Office on Friday.
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Indian ports-to-mining billionaire conglomerate Adani Enterprises has expressed an interest to acquire and develop the port of Bataan in the Philippines, according to an official statement by the Presidential Communications Office on Friday. Adani told Marcos that the Indian operator was looking to develop a 25-meter deep port that could accommodate Panamax vessels, suggesting that it could be a "good opportunity" for the company. Marcos suggested during the meeting that APSEZ could focus on catering to the needs of Philippines' domestic shipping industry initially before shifting the focus to international market.The presidential statement noted that Adani Enterprises, helmed by billionaire Gautam Adani, was also looking to invest in airports, power and defence sectors in the Philippines.APSEZ has investments in 14 ports in India as well as three foreign ports, including the West Container Terminal (WCT) of Colombo Port, Israel's Haifa and the Abbott Point Terminal on Australia's Pacific Ocean seaboard.
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Indian Billionaire Adani Eyes South China Sea Port in the Philippines
If Adani's offer is approved by Manila, the port of Bataan could become the Indian billionaire's fourth foreign port acquisition.
Indian ports-to-mining billionaire conglomerate Adani Enterprises has expressed an interest to acquire and develop the port of Bataan in the Philippines, according to an official statement by the Presidential Communications Office on Friday.
Karan Adani, the Managing Director of India's largest port operator Adani Ports and Special Economic Zone Limited (APSEZ), called on the Phillipine President Ferdinand R. Marcos Jr in Manila on Thursday.
Adani told Marcos that the
Indian operator was looking to develop a 25-meter deep port that could accommodate Panamax vessels, suggesting that it could be a "good opportunity" for the company.
"President Marcos welcomed APSEZ expansion plans in the Philippines, suggesting it may focus on ports handling agricultural products to enable the Philippines to eventually compete globally. President Marcos said the government is developing its gateways for tourists and business travelers and for the country’s agriculture products to be moved around affordably and reliably," the official statement quoted the leader as saying.
Marcos suggested during the meeting that APSEZ could focus on catering to the needs of Philippines' domestic shipping industry initially before shifting the focus to international market.
“I always say in my speeches I consider the private sector a full partner in this— it’s a 50/50 agreement. The government cannot do everything and there are many things that the private sector does better than government. So, we should recognise that,” Marcos told Adani.
The presidential statement noted that Adani Enterprises, helmed by billionaire Gautam Adani, was also looking to invest in airports, power and defence sectors in the Philippines.
APSEZ has
investments in 14 ports in India as well as three foreign ports, including the West Container Terminal (WCT) of Colombo Port, Israel's Haifa and the Abbott Point Terminal on Australia's Pacific Ocean seaboard.
