Adani Group plans to invest $2 Billion for acquisitions of ports in Europe

AHMEDABAD : The Adani Group is planning to invest $2 billion for acquisitions in the ports sector to expand its presence in the international market, a spokesperson said.

The company’s flagship Adani Ports & Special Economic Zones Ltd. is scouting for terminals in Europe, which accounts for 40% of global sea trade. “We are looking for two or three terminals in Europe only and deals should happen in the near future,” the spokesperson said.

The company has ports in Sri Lanka, Israel, Australia, Tanzania and Greece and is seeking to further expand abroad.

In India, the company, with a cargo handling capacity of 633 million metric tonnes at 15 ports, has a market share of 27% which it is planning to enhance to 40% by 2030. For this purpose, capacity addition is planned in the west coast.

Last year, the company had reported an EBITDA of ₹17,590 crore and this year the half yearly EBITDA has reached ₹18,846 crore, the spokesperson said.