BBG: Adani Ports to invest $1.2bn in new transshipment terminal

ID 268572413 © Александр Лебедько | Dreamstime.com

BLOOMBERG reports:

Adani Ports and Special Economic Zone Ltd. plans to ramp up its investment to 100 billion rupees ($1.2 billion) to boost its southern India transshipment container port, according to people with knowledge of the matter, as it looks to lure some of the world’s largest ships.

The investment in the first-of-its-kind Vizhinjam port in the state of Kerala is part of the second phase of the project that is expected to finish by 2028, said people familiar with the Adani Group’s plans who did not want to be identified as the details are not announced.

It is also wooing the biggest container lines such as MSC Mediterranean Shipping Co., A.P. Moller – Maersk A/S, and Hapag-Lloyd to call in at the port, they added…

The full post is here.