Adani Ports to sell 49% stake in Vizhinjam port to MSC for $1.4 billion
Swiss shipping group’s investment through Terminal Investment is expected to boost cargo volumes at the Kerala port, subject to regulatory approvals
NEW DELHI: India’s Adani Ports and Special Economic Zone said on Tuesday that Switzerland’s MSC Group will acquire a 49% stake in its Vizhinjam port for $1.4 billion.
MSC, the world’s largest container shipping company, will make the investment through its unit Terminal Investment.
Adani Ports said the deal would be the largest foreign private investment in India’s port infrastructure.
The transaction is subject to regulatory approvals.
The company said the partnership is expected to increase cargo volumes at Vizhinjam and support faster ramp-up of operations at the Kerala-based port.
Adani Ports said the investment is part of its strategy to build partnerships with global port operators to drive traffic and expand capacity at key growth hubs.
The deal will be Adani Ports’ third partnership with MSC after joint ventures at Mundra and Ennore ports.
Comments
No comments yet. Be the first to join the discussion!
