https://sputniknews.in/20240524/adani-eyes-ports-in-dubai-and-africa-to-expand-indias-global-footprint--7446418.html
Adani Eyes Ports in Dubai and Africa to Expand India’s Global Footprint
Adani Eyes Ports in Dubai and Africa to Expand India’s Global Footprint
Sputnik India
The port expansion plans of Adani are in line with the Indian government’s increased focus on Africa, Middle-East and Southeast Asia in recent months and years.
2024-05-24T18:14+0530
2024-05-24T18:14+0530
2024-05-24T18:19+0530
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India’s largest port operator Adani Ports and Special Economic Zone Limited (APSEZ) is in talks with local operators to acquire stakes in ports in Dubai and South Africa, industry sources told Sputnik India.In Southeast Asia, APSEZ is looking to acquire and develop the port of Bataan in the Philippines.APSEZ’s Managing Director Karan Adani expressed a formal interest in acquiring stakes in the port during a meeting with Philippine President Ferdinand R. Marcos Jr in Manila this month.The proposed port investments, which could be between $2 to $4 billion, are part of a global expansion push by the billionaire conglomerate to develop presence along major global shipping routes traversing Africa and Asia.Industry sources suggested that the APSEZ was looking to expand not only its international footprint, but also develop port capacity at “crucial shipping lines” in the Asian and African region. They underscored that there was a “sound business logic” for the Adani firm to have a presence in the regions, given their locations and local market demand.In Africa, the Adani company seeks to capitalise on a growing market demand of rising African economies by helping with infrastructure and connectivity investments, which could ultimately help to increase Indian exports in the region.Sources rejected speculation that the company was looking to acquire stakes in any European or British port, citing recessionary conditions and red-tapism among several reasons.Focus on International Cargo Handling OperationsAt present, APSEZ has investments in 15 domestic and three international ports, which are located in Israel, Sri Lanka and Australia.According to its filings, Adani ports handled 420 million metric tonnes (MMT) of cargo in the financial year 2023-24, representing a 24 percent increase as compared to 2022-23.However, the company’s domestic cargo handling operations were much larger than its international operations.APSEZ was looking to increase its international cargo handling operations to at least 20 percent by next year, the sources highlighted. As of 2024, the share stood at less than 10 percent.The Indian port operator is looking to increase its cargo handling capacity to over 500 MMT by 2025, according to a company statement this month.
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Adani Eyes Ports in Dubai and Africa to Expand India’s Global Footprint
18:14 24.05.2024 (Updated: 18:19 24.05.2024) Exclusive
The port expansion plans of Adani are in line with the Indian government’s increased focus on Africa, Middle-East and Southeast Asia in recent months and years.
India’s largest port operator Adani Ports and Special Economic Zone Limited (APSEZ) is in talks with local operators to acquire stakes in ports in Dubai and South Africa, industry sources told Sputnik India.
In Southeast Asia, APSEZ is looking to acquire and develop the port of Bataan in the Philippines.
APSEZ’s Managing Director Karan Adani expressed a formal interest in
acquiring stakes in the port during a meeting with Philippine President Ferdinand R. Marcos Jr in Manila this month.
The proposed port investments, which could be between $2 to $4 billion, are part of a global expansion push by the billionaire conglomerate to develop presence along major global shipping routes traversing Africa and Asia.
Industry sources suggested that the APSEZ was looking to expand not only its international footprint, but also develop port capacity at “crucial shipping lines” in the Asian and African region. They underscored that there was a “sound business logic” for the Adani firm to have a presence in the regions, given their locations and local market demand.
“Dubai is a major trans-shipment hub. Meanwhile, the Philippine port could serve as a logistical hub for company operations in southeast Asia. There’s a
lot of coal coming into India from Indonesia and Australia,” sources said.
In Africa, the Adani company seeks to capitalise on a growing market demand of rising African economies by helping with infrastructure and connectivity investments, which could ultimately help to increase Indian exports in the region.
Sources rejected speculation that the company was looking to acquire stakes in any European or British port, citing recessionary conditions and red-tapism among several reasons.
Focus on International Cargo Handling Operations
At present, APSEZ has investments in
15 domestic and three international ports, which are located in Israel, Sri Lanka and Australia.
According to its filings, Adani ports handled 420 million metric tonnes (MMT) of cargo in the financial year 2023-24, representing a 24 percent increase as compared to 2022-23.
However, the company’s domestic cargo handling operations were much larger than its international operations.
APSEZ was looking to increase its international cargo handling operations to at least 20 percent by next year, the sources highlighted. As of 2024, the share stood at less than 10 percent.
The Indian port operator is looking to increase its cargo handling capacity to over 500 MMT by 2025, according to a company statement this month.
