The Adani Group has announced plans to invest $2 billion in acquiring ports in Europe, reported The Hindu. This move is part of their strategy to expand their international presence and boost their market share in global sea trade.
The company’s flagship, Adani Ports & Special Economic Zones Ltd., is actively scouting for terminals in Europe, which accounts for 40% of global sea trade.
Key Points:
- Target: Two or three terminals in Europe
- Market Share: Currently holds a 27% market share in India, aiming to increase it to 40% by 2030.
- Expansion: The company already has ports in Sri Lanka, Israel, Australia, Tanzania, and Greece.
Recently, in last month, Adani Group Chairman Gautam Adani hosted ambassadors from the European Union, Belgium, Denmark, and Germany at the company’s office in Gujarat. The delegation toured the Adani Group’s renewable energy park in Khavda and the port, logistics, and industrial hub in Mundra.
The Adani Group has several plans and projects in Europe, including wind and solar power station project in Morocco to produce green hydrogen for Europe. The Indian group also has a plan to scale up green hydrogen production to meet the European Union’s Renewable Fuels of Non-Biological Origin (RFNBO) requirements.
This investment is expected to enhance Adani Group’s capabilities and strengthen its position in the international maritime industry.
The Adani Group has several notable international ventures across various sectors. Adani aims to develop 10 GW of hydroelectric projects across Nepal, Bhutan, Kenya, Tanzania, the Philippines, and Vietnam.
The 1,600 MW Godda plant in Jharkhand, India, exports power exclusively to Dhaka, Bangladesh.
Besides, Adani Ports holds a 70% stake in Haifa Port, acquired for $1.2 billion in partnership with Israel’s Gadot Group.