The India-based Adani Ports and Special Economic Zone Limited (APSEZ Ltd.) is looking at Bataan for its port development plan, the Palace said on Friday.
The Presidential Communication Office said the company plans to develop a 25-meter-deep port that can accommodate Panamax vessels.
The Adani group is also planning to invest in ports, airports, power, and defense.
In a courtesy call in Malacañang on Thursday, APSEZ Ltd. Managing Director Karan Adani cited the stability in regulation and business environment under the Marcos administration as reasons for investing in the Philippines.
‘Your Excellency, as a private sector, what we always look for is stability. Stability in the regulation, stability in the environment that we are operating in. That is what, as you said, you are providing,’ APSEZ Ltd. Managing Director Karan Adani told President Ferdinand R. Marcos Jr. during the meeting.
President Marcos welcomed APSEZ expansion plans in the Philippines, suggesting it may focus on ports handling agricultu
re products to enable the Philippines to eventually compete globally.
Marcos explained that the government is developing its gateways for tourists and business travelers, as well as for the country’s agriculture products to be moved around affordably and reliably.
He said the ports could cater to local or domestic shipping before shifting to international market.
He also stressed the importance of collaboration between the public and the private sectors as his government opens up the Philippine economy.
‘I always say in my speeches I consider the private sector a full partner in this — it’s a 50/50 agreement. Government cannot do everything and there are many things that the private sector does better than government. So, we should recognize that,’ he said.
APSEZ Ltd. is the largest commercial port operator in India accounting for nearly one-fourth of the cargo movement in the country.
APSEZ Ltd. is under the Adani Group, which is comprised of several publicly listed entities with a combined market ca
pitalization of more than US$242.73 billion.
Among its business areas are energy, ports and logistics, mining and resources, gas, defense and aerospace, and airports. (PNA)
Source: Philippines News Agency