By Reuters

(Reuters) - India’s Adani Ports (APSE.NS) said on Tuesday it will deepen ​its European footprint by building offshore ‌capabilities with U.S. engineering firm Oceaneering International (OII.N), committing $1.36 billion in capital spending through fiscal year 2031. 

The country's ​largest private port operator said it is ​targeting marine revenue of 60 billion ⁠rupees ($627.43 million) from the expansion. As part of ​the planned expansion, its marine services unit Astra ​Offshore will develop a fleet of 200 vessels with specialised offshore capabilities.

The deal reflects Adani Ports’ strategy to scale up its global ​footprint and tap rising offshore logistics ​demand in Europe, as it seeks to diversify beyond ‌its ⁠core domestic port business and build a meaningful presence in maritime services.

The move also comes after the ports operator forecast slower core ​earnings growth ​in fiscal ⁠2027 due to U.S. tariffs and the Iran war.

The company, part ​of billionaire Gautam Adani’s conglomerate, ​had ⁠last month outlined capital expenditure of 120 billion to 140 billion rupees for fiscal 2027, ⁠while ​projecting revenue of 430 ​billion to 450 billion rupees.

($1 = 95.6275 Indian rupees)

Reporting by ​Kashish Tandon in Bengaluru; Editing by Sonia Cheema

Reuters report

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