India’s Adani Ports and Special Economic Zone Ltd (APSEZ) has exited the Myanmar market, finding a buyer to stump up $30m for its facility in Yangon.
Adani Yangon International Terminal has an annual handling capacity of 800,000 teu and 3.5m tonnes of bulk cargo.
The buyer, Solar Energy, was able to negotiate a significantly lower price in the long protracted talks to sell the port.
Myanmar’s exports have struggled as sanctions have kicked in following a coup two years ago.
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