New Delhi:

Adani Group firm APSEZ is eyeing the Philippines’ Bataan province to develop a port, a statement issued by the office of the president of the Philippines said.

APSEZ Managing Director Karan Adani met the Philippines President Ferdinand R Marcos Jr at Malacanang on May 2 in a courtesy call to discuss Adani Group’s plans for the port.

APSEZ is planning to open a port in the Philippines due to the nation’s stable leadership and environment, the statement quoted Mr Adani as saying.

He said APSEZ plans to develop a 25-meter deep port that can accommodate Panamax vessels. The Adani Group, on the other hand, is planning to invest in ports, airports, power, and defence.

According to the statement, Marcos welcomed APSEZ expansion plans in the Philippines, suggesting it may focus on ports handling agricultural products to enable the Philippines eventually compete globally.

He suggested that the company should start regionally and the ports could also cater to local or domestic shipping before shifting to international market.

Marcos said the government is developing its gateways for tourists and business travellers and for the country’s agriculture products to be moved around affordably and reliably.

APSEZ, a part of the globally diversified Adani Group, is the largest port developer and operator in India.

It has seven strategically located ports and terminals on the west coast and eight on the east coast of India. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Adani Ports and SEZ Ltd. runs the Haifa Port in north Israel. File
| Photo Credit: AP

Adani Ports and SEZ Ltd. which runs the Haifa Port in Israel, said it is closely monitoring the action on ground which is concentrated in south Israel, whereas Haifa port is situated in the north.

“We have taken measures to ensure safety of our employees and all of them are safe. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality,” a spokesperson of the company said in a statement.

“The overall contribution of Haifa in APSEZ’s numbers is relatively small at 3% of the total cargo volume. For the current financial year [Apr 23-Mar 24], we have guided for Haifa Cargo volumes range of 10-12 MMT and APSEZ’s total cargo volume guidance of 370-390 MMT,” the statement said.

“In the initial six months [Apr-Sep 23], APSEZ’s total cargo volume was ~203 MMT, of which the Haifa share is ~6 MMT. We stay confident of APSEZs business performance,” it added.