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Temporary_Alfalfa489 on November 8th, 2023 at 16:44 UTC »
Adani is going to be big victor in this race against Chinese-controlled ports in Asia.
They already wrested control of Haifa Port in January, previously operated by Shanghai Intl' Port Group- signaling a change in the acquisition strategy. Now this, and the GoI support to Vizhinjam Seaport project, meaning they are betting their cards on ports overlooking major maritime routes. I have a hunch there will be more acquisitions in SL and Gulf of Oman region in near future.
Adani Ports and SEZ also has big muscles to flex. I hope they buy out Duqm next.
Aggravating_Boy3873 on November 8th, 2023 at 16:07 UTC »
We will see similar strategies in Africa as well to counter Chinese influence.
Philoctetes23 on November 8th, 2023 at 15:53 UTC »
SS: The United States International Development Finance Corporation has lent 553 million dollars to the development of a container terminal in debt-ridden Sri Lanka which is to be operated by the Indian billionaire Gautam Adani as a significant part of the US’s efforts to counter Chinese influence in Sri Lanka.
Sri Lanka has suffered from much overseas debt totaling around 40 billion USD and the nation has been in talks with China and India on finding ways to restructure this debt. DFC chief executive Scott Nathan states that this loan “will expand [the terminal’s] shipping capacity, creating greater prosperity for Sri Lanka — without adding to sovereign debt — while at the same time strengthening the position of our allies across the region.”
This move further shows the growing strategic partnership between the U.S. and India on countering China’s interests in the Indo-Pacific.