India’s Adani Group has signed an MoU with Malaysia’s MMC Port Holdings with an eye to entering the Southeast Asian ports scene.
Adani Ports and Special Economic Zone (Apsez) is looking to set up a multipurpose container port at Carey Island in Malaysia’s Selangor state. Adani will carry out a feasibility study into the proposed port complex association with MMC and another Malaysian conglomerate, Sime Darby.
Karan Adani, CEO of Apsez, said, “Malaysia is very strategic to Apsez’s global strategy and with the Straits of Malacca being a global shipping route, it helps us to drive our global transhipment strategy further. With Vizhinjam port on one side, Carey Island port on the other, we will be able to give transhipment solutions to global shipping lines.”
MMC has terminals across Malaysia in Pelabuhan Tg Pelepas (PTP), Johor Port, Northport, and Penang Port as well as having a 20% stake in Red Sea Gateway terminal in Jeddah.
MMC has recently proposed to acquire the remaining 51% equity interest in Penang Port.