Adani Ports to sell 49pc stake in Indian port to MSC for $1.4b

India's Adani Ports and Special Economic Zone said on Tuesday that Switzerland's MSC Group will acquire a 49 per cent stake in its Vizhinjam port for $1.4 billion, in what it said is the largest foreign private investment in domestic port infrastructure, reports Reuters.

MSC, the world's largest container shipping company, will make the investment through its unit Terminal Investment.

Adani Ports the partnership is expected to boost cargo volumes at the port and accelerate ramp-up at the Kerala-based port, adding that the transaction is subject to regulatory approvals.

The investment underscores Adani Ports' strategy of deepening partnerships with global port operators to drive traffic and fast-track capacity ramp-up at Vizhinjam, one of its key growth hubs, it said.

The deal marks Adani Ports' third partnership with MSC after joint ventures at its Mundra and Ennore ports.