Adani Ports SEZ Inks Pact With France’s CMA CGM To Operate Mundra Port
Adani Ports and Special Economic Zone Ltd. (APSEZ) on Tuesday 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 Chief Executive Officer Karan Adani saidwith 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.Karan Adani, CEO, Adani Ports and Special Economic Zone
The two partners have completed the CT4 project three months ahead of the schedule, making Mundra Port the largest container-handling port in the country.
The port was already the country's number one multi-purpose port facility. CT4 will be the only container terminal on the west coast of India where the world's largest container ships can call.
CT4 has four units of 65 tonnes capacity of Rail Mounted Quay Cranes capable of handling 18,000 TEU (twenty foot equivalent unit to measure containers) vessels and Super Post and Ultra Large Container Vessels and an annual capacity of 1.3 million TEUs.
“The terminal spans over 27 hectares, with a 650-meter long quay and a draft of 16.5 meters. The yard equipment will include twelve 41 tonne lift rubber tyred container gantry cranes which will accommodate seven rows of containers and one operational lane,” the statement said.
For CMA CGM, CT4 is its first port investment in India, and demonstrates its ambition to further increase its presence in this strategic and fast-developing country.
CMA CGM is present in India since 1984. With around 4,000 staff members and 29 offices, it is calling 13 ports in India, and offers to its Indian customers 11 direct weekly shipping services connecting India to Europe, Africa, North America, South America, Asia, Australia and the Middle East.
In India, CMA CGM Group offers a wide range of shipping and intermodal solutions covering accessibility to and from 51 inland locations, six gateway ports and seven feeder ports in the country.
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
