Adani Ports to set up first container terminal outside India in Myanmar

Adani Ports and Special Economic Zone (APSEZ) will set up its first container terminal outside India in Myanmar, at an estimated cost of $290 million (over Rs 2,000 crore). The company has signed an agreement to develop and operate a container terminal at Yangon Port in Myanmar.
The terminal will have a capacity to handle 0.80 million TEUs (20-foot equivalent unit) of containers. The estimated cost for implementing phase-I of 0.5 million TEUs is between $220-230 million, and the phase-II expansion to 0.8 million TEUs is expected to cost between $55-60 million. The investment is in line with APSEZ’s strategy to have a footprint in Southeast Asia and expand the container terminal network. Construction for phase-I of the project will commence next month and will be completed by June 2021. The terminal will be integrated with APSEZ ports/terminals along the east and south coast of India, unlocking synergies by offering multiple entry and exit points for shipping lines.