Adani Ports to sell 49% stake in Indian port to MSC for $1.4 billion

India's Adani Ports and Special Economic ​Zone (APSE.NS), opens new tab said on Tuesday that ‌Switzerland's MSC Group will acquire a 49% stake in its Vizhinjam port ​for $1.4 billion, in what it ​said is the largest foreign private ⁠investment in domestic port infrastructure.

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

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.