India’s Adani Ports sets up subsidiary in Oman

India's leading ports and logistics entity, Adani Ports and Special Economic Zone Ltd (APSEZ), has set up a subsidiary in Oman to bolster its global operations. The newly created firm, Indian Ocean Gateway Terminal, was registered on October 21, as reported by the National Stock Exchange of India in a recent filing. The company intends to leverage this entity to manage its offshore activities within the country.

Indian Ocean Gateway Terminal belongs exclusively to Adani International Ports Holdings Pte Ltd, a wholly-owned subsidiary of APSEZ. Consequently, the Oman-based entity is a second-tier subsidiary of Adani Ports and Special Economic Zone Ltd. The proposed operations of the new entity are within the ports and logistics sector. The proposed share capital of RO500,000 is entirely held by Adani International Ports Holdings, with 100 shares valued at RO5,000 each.

While the company did not disclose specific Omani ports or investments, the move is part of APSEZ's broader strategy to establish a diversified and globally-expanded business platform. The company, India's largest integrated transport operator, operates 20 ports and terminals, including 16 ports in India and four international ports in Israel, Tanzania, Sri Lanka, and Australia.

APSEZ handles nearly 27% of India's cargo volume, with a port capacity of 671 million metric tons, aiming to reach 1 billion metric tons by 2030. The firm's diverse cargo handling capabilities encompass dry bulk, liquid bulk, crude oil, containers, and breakbulk, accommodating some of the largest vessels in the region.