Adani Ports Removed From S&P Index Due To Links With Myanmar Military

The country'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).

S&P Dow Jones Indices said it has removed Adani Ports and Special Economic Zone Ltd from its sustainability index due to the firm's business ties with Myanmar's military which is accused of human rights abuses after a coup this year. The country'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 prior to the open on Thursday, April 15, it said in a statement on Tuesday. More than 700 people have been killed since a Feb.1 military coup that ousted an elected government led by Aung San Suu Kyi.