New Delhi, India (Ports Europe) December 9, 2024 – The Adani group, an Indian multinational conglomerate, plans to invest $2 billion in acquiring terminals and ports in Europe as part of its strategy to strengthen its global presence and expand its market share in international sea trade. Greek terminals are seen as a key target, but an expensive one.
The company’s flagship entity, Adani Ports & Special Economic Zones Ltd (APSEZ), the largest commercial ports operator in India, which accounts for over one-fourth of the cargo movement in the country, is searching for up to three terminals/ports in Europe which are for sale.
The company already operates ports in Sri Lanka, Israel, Australia, Tanzania and 15 ports in India, highlighting its established international footprint. Europe accounts for 40% of global sea trade.
Seeking to acquire more European terminals aligns with Adani’s ambitions in renewable energy and international maritime expansion.
In November, the chairman of the Adani group Gautam Adani hosted ambassadors from Belgium, Denmark, and Germany at the company’s facilities in Gujarat, showcasing its renewable energy and industrial projects.
Adani holds a 70% stake in Israel’s Haifa Port, acquired for $1.2 billion in partnership with Israel’s Gadot Group.
In August 2023 local press in India reported that the Adani group could be interested in acquiring the rights to a port in Greece. Such a port could be a gateway into Europe.
Does India’s Adani group want to buy a Greek port?
In recent years, Greece has been privatising ports. The main port, Piraeus, is controlled by China’s COSCO Shipping Ports Limited. Thessaloniki was purchased by the Russian billionaire of Greek origin (and a friend of Russian President Vladimir Putin), Ivan Savvidis.
Last November, the Greek government withdrew plans to privatise 67% of the ports of Alexandropoulis and Kavala, which will now remain in state ownership. This reflects the growing geopolitical importance of the region, with various “superpowers” vying for influence.
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