Adani Ports’ JV with CMA CGM
The new container terminal at Mundra port, to be developed under the joint venture with the French group, will have world-class facilities and will boost cargo volumes across the board.
AdaniPorts and Special Economic Zone (APSEZ) signed an agreement with France's CMA CGM Group to develop a new common-user container terminal at the Mundra port. This will be the fourth container terminal at Mundra and will have a 650-metre terminal, along with 27 hectares of back area, capable of handling 1.3 million TEUs annually. It is targeted to be completed in a record time of 24 months. The new terminal will be set up as an equal joint venture between APSEZ and CMA CGM Group.
According to the statement released by APSEZ, this partnership is expected to significantly accelerate the ramp up of export, import and transshipment container volumes in India.
“We are very pleased with this JV partnership that will help put our continued expansion at the Mundra port on an even steeper trajectory. The strategic value of such a partnership with a major global player like CMA CGM is hugely significant and opens up a whole set of additional opportunities and synergies for both the companies”, said Gautam Adani, Chairman of the Adani Group.
The new container terminal is planned to be a world-class facility that will stimulate the growth of cargo and accelerate the industrial development over the vast hinterlands that Mundra provides access to. This will make Mundra the largest container port in the country, with a total handling capacity reaching 5.5 million TEUs.
Farid T. Salem, Executive Officer of CMA CGM and Director of the Board, said, “With this investment, CMA CGM and Adani Ports will develop a state-of-the-art infrastructure that will play a key role for the development of the country's industry. CMA CGM has strong ambitions in India. We are convinced our partnership with Adani Ports will significantly reinforce this strategy”.This joint venture is a major step for APSEZ to expand its container terminals footprint across India’s coastline. This partnership will also allow Adani Ports to fulfill its stated vision of handling 200 million metric tonnes of cargo well before the year 2020.
Chairman, Adani Group