The agreement with Swiss-based Mediterranean Shipping Company brings a strategic partner into the Kerala transshipment hub as Adani Ports seeks to lift cargo volumes while retaining a majority stake.
Adani Ports & Special Economic Zone said on Tuesday it agreed to sell a 49% stake in one of its Indian ports, the Kerala-based Vizhinjam transshipment hub, to Swiss-based Mediterranean Shipping Company for $1.40 billion. The company said the transaction is the single largest foreign private investment in Indian port infrastructure. The deal brings a major global shipping company into the asset as Adani Ports seeks to boost cargo volumes through the port while retaining a controlling stake.