NEW DELHI: Adani Ports and Special Economic Zone (APSEZ) today inked a joint venture pact with French shipping giant CMA CGM to operate a new container terminal at Mundra Port for next 15 years.
The Adani Group firm said this collaboration will see the Mundra Port becoming India’s largest container terminal port.
APSEZ and France’s CMA CGM, a leading worldwide shipping group, have signed a pact to operate a new container terminal (CT4) at Mundra Port for next 15 years with an option to extend it twice for 10 more years, the Ahmedabad-based port operator said in a statement.
“We have been present in India for over three decades now and employ 4,000 people. This joint venture with Adani Ports reinforces our position in one of the world’s fastest growing economies and highlights our firm belief in the potential growth of trade between India and the rest of the world,” said Rodolphe Saade, chief executive officer, CMA CGM.
APSEZ CEO Karan Adani termed a notable milestone for APSEZ saying with the commissioning of this terminal, Mundra port will become India’s largest container-handling port.
“With this new development, Mundra port is perfectly primed to set the bar even higher on the crucial parameters of efficiency, productivity and faster turnaround times for larger vessels, which will directly translate into competitive advantages for our customers.
Mundra port continues to be conscious of its environmental responsibilities and has installed world class equipment, which vastly reduces air and noise pollution,” he said.
