India’s largest private multi-port operator is building a $ 290 million port in Yangon on land leased from the military-backed Myanmar Economic Corporation.
S&P Dow Jones Indis said it had removed India’s Adani Ports and Special Economic Zone Limited from its sustainability index because of its trade ties with Myanmar’s military, which has been accused of human rights abuses following the coup this year.
India’s largest private multi-port operator is building a $ 290 million port in Yangon on land leased from the military-backed Myanmar Economic Corporation (MEC).
It will be removed from the index before it opens in the open on Thursday 15 April.
More than 700 people have died after the February 1 military coup, which was thrown out by an elected government led by Aung San Suu Kyi.
The port developer did not immediately respond. Reuters Email request for comment outside of regular business hours.
India’s Adani group said on 31 March that it would consult officials and stakeholders on its port project in Myanmar after human rights groups agreed to pay millions of dollars in rent to its subsidiary to a military-controlled firm.
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