KLP has invested $1.05 million in Adani Ports, or about Rs 8 crore.
KLP said in its statement that the partnership of Adani Ports with the military there in Myanmar is in violation of our policies and it is not an acceptable risk for us. That’s why we have decided to disinvest from Adani Ports.
New Delhi. Adani Ports and Special Economic Zone (Adani Ports and SEZ) is not taking the name of the problems down. Earlier, due to fake news of account freeze of 3 FPIs investing in the company, the company’s shares fell from their record bull run, while now there is news that Norway’s largest pension fund KLP investing in the company. The company is pulling back its investment. Actually, KLP says that the relation and business of Adani Ports is with the military government of Myanmar which is against the company’s policies, so the company is divesting from Adani Ports.
Land is taken on lease from military-owned businessman
In February 2021, in Myanmar, the same military overthrew the elected government and violently attacked the people who opposed it. Due to this, it was strongly condemned at the international level and many types of restrictions have been imposed on the military regime there. It is known that India’s largest port operator company Adani Ports and SEZ has taken land on lease from a military-owned businessman there to develop the port in Yangon, Myanmar. For this reason, the company has been under the scrutiny of international investors for the past several months.
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KLP said partnership with Adani Ports is a violation of our policies
KLP said in its statement that the partnership of Adani Ports with the military there in Myanmar is in violation of our policies and it is not an acceptable risk for us. That’s why we have decided to disinvest from Adani Ports. Let us tell you that KLP has invested $ 1.05 million or about Rs 8 crore in Adani Ports. However, no official statement has come out from Adani Ports in this matter yet. Today the shares of Adani Ports closed at Rs 741.90 with a rise of 1.48% on NSE.