Adani Ports seen closing in on Salalah Port
Mumbai: Adani Ports and Special Economic Zone (APSEZ), the largest private port operator in India, may be on the verge of acquiring Oman's largest port, the Port of Salalah. The potential deal came to light after APSEZ incorporated a new company, Indian Ocean Gateway Terminal, in Oman. The current operator of Salalah Port, Salalah Port Services Company SAOG, informed the Muscat Stock Exchange on October 18 that the existing concession agreements, which ended in two years, would not be extended.
This disclosure, combined with APSEZ's recent earnings call where CEO Ashwani Gupta mentioned the company was evaluating over 20 overseas assets for potential acquisition, suggests APSEZ is close to finalizing a deal with the Oman government on the Salalah Port.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
