FCC

Adani's APSEZ plans port development in Philippines

2024-05-06

The office of the President of the Philippines revealed that APSEZ, a firm under the Adani Group, expressed interest in developing a port in Bataan province. According to a statement, Karan Adani, the Managing Director of APSEZ, had a meeting with President Ferdinand R Marcos Jr at Malacanang on May 2. During the meeting, Adani discussed the group's intentions regarding the port project.

Adani mentioned that APSEZ aims to establish a port in the Philippines owing to the stable leadership and favourable environment in the country. He elaborated that their plan involves constructing a 25-metre deep port capable of accommodating Panamax vessels. Additionally, the Adani Group is considering investments in ports, airports, power, and defence sectors.

Quoting Adani, the statement highlighted Marcos's positive reception towards APSEZ's expansion plans. Marcos proposed that the focus of the port operations could initially revolve around handling agricultural products, enabling the Philippines to compete on a global scale eventually. He suggested that APSEZ should begin its operations regionally, with the ports initially catering to local or domestic shipping needs before venturing into the international market.

Furthermore, Marcos mentioned the government's efforts to develop gateways for tourists and business travellers, as well as facilitating affordable and reliable transportation of agricultural products within the country.

APSEZ, a segment of the globally diversified Adani Group, is recognized as the largest port developer and operator in India. The company currently manages seven strategically positioned ports and terminals on the west coast, along with eight on the east coast of India.