New Delhi:
Adani Group firm APSEZ is eyeing the Philippine province of Bataan to develop a port, according to a statement from the Office of the President of the Philippines.
APSEZ Director Karan Adani met Philippine President Ferdinand R Marcos Jr. in Malacanang on May 2. during a courtesy visit to discuss Adani Group's plans for the port.
APSEZ plans to open a port in the Philippines because of the country'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 ships. The Adani Group, on the other hand, plans to invest in ports, airports, energy and defense.
According to the statement, Marcos welcomed APSEZ's expansion plans in the Philippines, suggesting it could focus on ports that handle agricultural products so that the Philippines can eventually compete globally.
He suggested that the company should start regionally and that ports could also focus on local or domestic shipping before moving to the international market.
Marcos said the government is developing its gateways for tourists and business travelers and ensuring affordable and reliable transportation of the country's agricultural products.
APSEZ, 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.
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