Updated May 4th, 2024 at 20:22 IST

Gautam Adani’s APSEZ eyes building port in Philippines

APSEZ aims to construct a port with a depth of 25 meters capable of accommodating Panamax vessels.

Reported by: Business Desk
Adani Ports | Image:Adani Ports
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APSEZ in Philippines: Adani Group's APSEZ is exploring opportunities in the Philippines, specifically in the Bataan province, to establish a port, as per a statement released by the office of the Philippines President Ferdinand R Marcos Jr.

During a courtesy meeting with Philippines President Ferdinand R Marcos Jr at Malacanang on May 2, APSEZ Managing Director Karan Adani discussed the Adani Group's intentions to develop a port in the region. Adani expressed confidence in the Philippines' stable leadership and conducive environment for such investments.

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APSEZ aims to construct a port with a depth of 25 meters capable of accommodating Panamax vessels. Additionally, the Adani Group is considering investments in various sectors including ports, airports, power, and defence.

President Marcos welcomed APSEZ's expansion plans, suggesting a focus on ports handling agricultural products to improve the Philippines' global competitiveness. He recommended starting with regional operations and gradually expanding into international markets, emphasizing the importance of catering to local shipping needs initially.

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Moreover, President Marcos highlighted the government's efforts to enhance infrastructure to support tourism, business travel, and the efficient transportation of agricultural products within the country.

APSEZ, a major player in the global port development and operations sector, is part of the diversified Adani Group. The company currently manages seven strategically located ports and terminals on the west coast and eight on the east coast of India.

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(With PTI inputs)

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Published May 4th, 2024 at 20:22 IST