India's richest man plans investment in Cambodia; Sun Chantho meets Indian investment delegation

On August 13, Samdech Techo Hun Sen’s Deputy Prime Minister and First Vice Chairperson of the Council for the Development of Cambodia (CDC), Sun Chantho, met with a delegation from Adani Ports and Special Economic Zones Limited of India to discuss port investment and logistics development. Adani Group—founded by India’s richest man, Gautam Adani—is an Indian multinational conglomerate. As of March 31, 2022, the group’s market capitalization stood at USD 157 billion. Deputy Prime Minister Sun Chantho extended a warm welcome to the Adani delegation visiting Cambodia and expressed hope that this visit would help more investors better understand Cambodia’s investment potential. He emphasized that Cambodia offers numerous investment advantages, including political peace and stability, investor-friendly incentive policies, and well-developed infrastructure. Mr. Capt. Sandeep Mehta, Executive Director of Adani Ports and Special Economic Zones Limited, expressed sincere gratitude to Deputy Prime Minister Sun Chantho for his introduction of Cambodia’s investment and development plans. He stated that Adani hopes to further consult and cooperate with the CDC to conduct more detailed research and assessment of Cambodia’s investment prospects and potential—particularly in infrastructure, ports, and logistics—in order to explore concrete investment opportunities.

Asia’s No. 1! India’s richest man Gautam Adani becomes the world’s second-richest person

Adani’s true rise began in 1991, when India launched economic reforms—breaking state-owned enterprise monopolies and introducing market-oriented mechanisms. Seizing this opportunity, Adani rapidly expanded his business empire into agriculture, textiles, metallurgy, and other sectors. After years of expansion, Adani’s business portfolio grew substantially: he came to own the world’s largest coal mine and India’s largest private power plant; he operated India’s largest coal import terminal; and he controlled over one-quarter of India’s civil aviation traffic. Adani’s dominance across these critical industries owes much to his adept management of political and business relationships. According to reports, Adani first met Narendra Modi—then Chief Minister of Gujarat—in 2003, and the two developed a close relationship. Throughout Modi’s political career, Adani provided substantial support. Later, as Modi ascended to the position of Prime Minister of India, Adani likewise reaped significant benefits in the business world. According to The Indian Express, Modi’s political opponents accused him of ‘nepotism’ due to his close ties with Adani, while Adani dismissed such allegations as ‘baseless,’ asserting that his success stemmed from alignment with Modi’s national strategic initiatives. Under this symbiotic relationship, Adani’s business empire has virtually monopolized essential aspects of daily life for Indians—food, clothing, housing, and transportation. II. Wealth and Crisis Coexist! Because many of Adani’s businesses operate in sectors vital to people’s livelihoods, his assets surged dramatically during the global pandemic. According to The Indian Express, between early 2020 and late January 2022, shares of Adani Green Energy rose over tenfold; Adani Gas shares rose more than tenfold; Adani Enterprises shares rose over 7.3 times; Adani Transmission shares increased more than fivefold; and Adani Ports shares rose 95%. This explosive wealth accumulation propelled Adani to become Asia’s first billionaire with assets exceeding USD 100 billion. Moreover, the Russia-Ukraine conflict further enriched Adani. With international coal prices soaring, the Asian benchmark thermal coal price—Newcastle coal from Australia—surpassed USD 400 per ton in March, remaining above USD 300 per ton thereafter—a year-on-year increase of over 200%. In this context, Adani—who controls the world’s largest coal mine—emerged as the biggest beneficiary. Yet many observers caution that although Adani’s wealth has skyrocketed, so too have associated risks. Much of Adani’s rapid acquisition of major Indian industries relied heavily on financial engineering and capital maneuvering. A report by credit research firm CreditSights highlights Adani Group’s ‘severe over-leveraging.’ The report states: ‘Adani Group’s acquisition spree has been primarily debt-financed. However, amid rising market interest rates and long payback periods for certain infrastructure projects, debt may pose significant risk.’

Adani Ports to Buy Europe’s Evos in $2.9 Billion Deal

19 hours ago

Adani Ports announced a $2.9 billion acquisition of Evos BV, Europe's second-largest independent liquid storage operator. This deal secures access to critical energy and industrial hubs with 99% commercial occupancy across eight port terminals.

bloomberg

2026-11-05

Adani Ports to Buy Europe’s Evos in $2.9 Billion Deal

Adani Ports to Buy Europe’s Evos in $2.9 Billion Deal

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