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Indian firm eyes port project in Bataan

An India-based company is eyeing to establish a port project in Bataan, according to the Presidential Communication Office on Friday. 

The PCO said Adani Ports and Special Economic Zone Limited (APSEZ Ltd.), the largest commercial port operator in India, is planning to develop a 25-meter-deep port that can accommodate Panamax vessels in the country. 

APSEZ Ltd. Managing Director Karan Adani also said that the firm is also planning to invest in the country's ports, airports, power, and defense sectors.

“Your Excellency, as a private sector, what we always look for is stability. Stability in the regulation, stability in the environment that we are operating in. That is what, as you said, you are providing,” the PCO quoted Adani as saying to President Marcos Jr. during a courtesy call in Malacañang on Thursday.

President Marcos, in response, welcomed APSEZ expansion plans in the Philippines and suggested that it could focus on ports handling agriculture products to enable the Philippines to eventually compete globally.

"The government is developing its gateways for tourists and business travelers and for the country’s agricultural products to be moved around affordably and reliably," the President said.

"The ports could also cater to local or domestic shipping before shifting to the international market," he added.

Marcos also highlighted the importance of the synergy between the public and private sectors in boosting economic growth.

“The government cannot do everything and there are many things that the private sector does better than the government. We should recognize that,” Marcos said.

APSEZ Ltd. was incorporated as Gujarat Adani Port Ltd. in May 1998. It accounts for nearly one-fourth of the cargo movement in the country. The company is part of the Adani Group which is comprised of several publicly listed entities with a combined market capitalization of more than US$ 242.73 billion. —Llanesca T. Panti/ VAL, GMA Integrated News