MSC pays $1.4bn for 49% stake in Adani's Vizhinjam port
The carrier's terminal arm TiL buys into India's first deep-draft transhipment port in a deal valuing it at $2.85bn.
Mediterranean Shipping Company (MSC) is deepening its bet on India's fast-growing container market, with its terminal arm Terminal Investment Limited (TiL) agreeing to acquire a 49% stake in Adani Ports' Vizhinjam transhipment terminal in a deal valued at $1.4bn.
The transaction values the Kerala port at approximately $2.85bn and is billed by the partners as the largest foreign private investment in Indian port infrastructure. Adani Ports & Special Economic Zone (APSEZ) will retain a controlling 51% stake, continue to manage the board and consolidate Adani Vizhinjam Port Private Limited as a subsidiary. The deal remains subject to regulatory approvals.
The investment will be completed in two phases. TiL will initially pay $539m for its equity stake, before investing a further $858m towards its share of the terminal's ongoing expansion programme, which is scheduled for completion by the end of 2028.
Commissioned in December 2024, Vizhinjam is India's first purpose-built deep-draft transhipment port and has quickly become one of the country's fastest-growing container gateways. The terminal currently has annual capacity of 1.6m teu, which will rise to 5.7m teu once expansion works are complete.
The deal strengthens an already close relationship between APSEZ and MSC. It is the third joint venture between the companies, following collaborations at the Mundra and Ennore container terminals.
