Adani sells blacklisted port in Myanmar for US$30m

Adani Ports and Special Economic Zone (APSEZ) has announced the sale of its port in Myanmar to Solar Energy for US$30m, following pressure from human rights groups over the project’s links to Myanmar’s military.

Scrutiny on investments in Myanmar has increased since February 2021 when the armed forces overthrew the country’s democratically elected government in a military coup, with multiple reports of human rights abuses.

APSEZ had signed an agreement in 2019 to build and operate Yangon International Terminal, paying US$90m in land lease fees to an organisation sanctioned by the US Office of Foreign Assets Control (OFAC), according to leaked documents obtained by activist groups.