The Adani Group will develop a port in India’s West Bengal state at a planned investment of over $3 billion, as the port-to-power group continues to strengthen its hold on the local infrastructure and logistics sectors.
Adani Ports and Special Economic Zone Ltd, controlled by Gautam Adani, the world’s second richest man, was on Monday selected to develop the Tajpur Deep Sea Port, according to a statement from the state government. The total investment of the greenfield project will be 25,000 crore ($3.1 billion), of which It added that Rs 15,000 crore would be spent on developing the port and the rest on building related infrastructure.
The latest win adds more strength to India’s largest private sector port operator, which already has a 30% domestic market share and is securing global contracts, including a Haifa port project in Israel and a port terminal in Sri Lanka. is included. It also underscores the growth appetite in the Adani Group which is growing existing businesses and rapidly entering new businesses such as cement, airports, media and data centres.
The local government, according to the statement, expects to generate 25,000 direct jobs and over 100,000 indirect jobs through this port, which is about 105 miles from state capital Kolkata.
A wholly owned subsidiary of Adani Ports last week signed an agreement to modernize a berth at Haldia port in West Bengal.