Adani group to look at setting up port in Malaysia

By: | Updated: April 3, 2017 9:06 PM

Adani group today signed a pact to look at the possibility of building a new multi-purpose port mainly for handling containers at Carey Island in Malaysia.

Adani Group, Malaysia, Adani Ports, APSEZ, Port Klang, Sime Darby Berhad, Kuala Lumpur, MMC Corporation Berhad“Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operating firm, will begin a feasibility study on building a greenfield multi-purpose port mainly for handling containers at Carey Island in Malaysia’s Selangor state, about 50 km southwest of capital Kuala Lumpur,” a company statement said.(Reuters)

Adani group today signed a pact to look at the possibility of building a new multi-purpose port mainly for handling containers at Carey Island in Malaysia. Adani Ports signed a memorandum of understanding with Malaysia’s MMC Ports to do feasibility study of the Carey Island Port Project as an extension of Port Klang, currently the 11th busiest container port in the world. Also, the two will collaborate with Sime Darby Property, the property arm of Sime Darby Berhad, one of South East Asia’s largest conglomerates, to study the feasibility of developing an integrated maritime city which will support the new port.

“Adani Ports and Special Economic Zone Ltd (APSEZ), India’s biggest private port operating firm, will begin a feasibility study on building a greenfield multi-purpose port mainly for handling containers at Carey Island in Malaysia’s Selangor state, about 50 km southwest of capital Kuala Lumpur,” a company statement said.

You may also like to watch:

MMC Port Holdings Sdn Bhd is a wholly-owned unit of MMC Corporation Berhad (MMC), one of Malaysia’s top utilities and infrastructure group with diversified businesses ranging from ports and logistics, energy and utilities and engineering and construction.

The MoU was signed by Che Khalib Mohamad Noh, Director of MMC Ports, Jauhari Hamidi, Managing Director of Sime Darby Property and APSEZ’s President of Business Development Sandeep Mehta.

Apart from developing and running India’s biggest private port located at Mundra in Gujarat, APSEZ is also the country’s biggest container handler outside state control. The firm operates container handling facilities at its flagship Mundra Port as well as in Hazira Port, both in Gujarat, and at Kattupalli near Chennai in Tamil Nadu.

Malaysia, one of the largest economies in South East Asia, is an important logistical hub in the region and is a gateway to the dynamic region of ASEAN.

MMC Port is Malaysia’s largest port operator and has operations in Saudi Arabia. Sime Darby Property is a wholly- owned subsidiary of Sime Darby Berhad, a Malaysia-based diversified multinational involved in key growth sectors such as plantation, industrial equipment, motors, property and logistics.

“Malaysia is very strategic to APSEZ global strategy and with straits of Malacca being a global shipping route it helps us to drive our global transshipment strategy further. With Vizhinjam port on one side Carey Island port on the other we will be able to give transshipment solutions to global shipping lines,” APSEZ CEO Karan Adani said.

APSEZ will soon start operating a new container handling facility it has built at Kamarajar Port at Ennore near Chennai. The firm is also building a mega container transshipment port at Vizhinjam on India’s southern tip located in Kerala’s capital Thiruvananthapuram.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition