Gautam Adani has moved his port strategy core team led by Captain Sandeep Mehta to Dubai as the tycoon eyes global opportunities in ports and terminals in his quest to become the world’s largest port operator by 2030, multiple sources said.
Mehta, a close confidant of Adani and a long serving executive at the port operator, is said to be the strategist behind some of the Group’s recent acquisitions in the port sector, notably, the West Container Terminal at Colombo Port and the Haifa Port, the largest commercial Port in Israel.
Mehta is the President of Adani Ports and Special Economic Zone Ltd (APSEZ), the ports unit of the diversified Adani Group.
“Captain Mehta and his team of 3-4 people have relocated to Dubai; they will be looking at potential acquisition opportunities sitting from there,” one of the sources, an industry official, with knowledge of the plan, said asking not to be named.
The team is said to have been asked to scout for opportunities in Northern Europe, Africa and some parts of Asia. That region makes sense,” the industry official said.
“We have extended from Indian ports to investments in Haifa Port (Israel) and Colombo (container terminal) with the objective to provide a global transport utility solution,” APSEZ said in the Company’s annual report for FY23, adding that it is exploring global opportunities with a special focus on Asia, Africa, and other markets.
The relocation of the core strategy team of APSEZ from Mumbai to Dubai is seen by the port industry as an indication that there is nothing left for Adani to buy in India after amassing ports including Krishnapatnam, Gangavaram, Dighi, Karaikal and Tajpur (greenfield/construction yet to start) in the last 2-3 years to add to the network of ports and terminals he already runs.
