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Adani in talks to develop Sabang port in Indonesia
Mint Mumbai
|October 18, 2023
Adani Ports and Special Economic Zone Ltd (APSEZ) is in talks with the Indonesian government to develop the strategically vital Sabang Port, two people aware of the matter said.
The group, which is also developing the Haifa Port in Israel, is considering establishing a new container terminal and transit port facilities at Sabang, located near the Strait of Malacca, a key global trade route, one of the two people said, requesting anonymity.
The initial investment in the project is estimated at close to $1 billion, but the actual investment requirements will be worked out once the company reaches an agreement with Indonesian authorities to develop the port, the person said.
An Adani group spokesperson did not respond to a query seeking comments.
This story is from the October 18, 2023 edition of Mint Mumbai.
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