INVC NEWS
Mumbai : Adani Group, led by Gautam Adani, the second richest businessman in India and Asia, is now planning to invest heavily in the Philippines. Earlier the company has entered Sri Lanka, Australia and Israel. Adani Group companies are considering investing in ports, airports, power and defense sectors in this country. Adani Ports has shown interest in developing a 25 meter deep port in Bataan, Philippines. The port can also handle Panamax vessels.
Generally this type of ship weighs between 50,000 to 80,000 deadweight tons. This ship is 965 feet long, 106 feet beam and 39.5 feet draft. It can carry huge amount of goods. Very few ports in the world have the facilities to handle such heavy ships. Gautam Adani’s son and Adani Ports MD Karan Adani met with Philippines President Fernidad R Marcos Jr. in Manila.
During this, he told about the investment plans of Adani Group in the Philippines. Marcos welcomed Adani Ports’ plans. He suggested that the company should focus on handling agricultural products so that the Philippines can compete internationally. He said that his government is developing gateways for tourists in the country. Besides, gateways are also being built to reduce the logistics cost of agricultural products.
