CMA CGM and Adani Ports, alongside Special Economic Zone (APSEZ), a port infrastructure developer and part of the Adani Group, have signed a joint venture agreement to operate a new container terminal (CT4) at Mundra Port, for the next 15 years with an option to extend it twice for 10 more years.
“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 Saadé, CMA CGM’s Chief Executive Officer.
Mr. Karan Adani, CEO, APSEZ, said, “This is a notable milestone for us, as with the commissioning of this terminal, Mundra port will become India’s largest container-handling port. This strategic partnership with CMA CGM in the Container Terminals business brings significant value to Mundra 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.”
The two partners have completed the CT4 project three months ahead of 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 vessels and Super Post and Ultra Large Container Vessels and an annual capacity of 1.3 million TEUs.