CMA CGM, the French shipping group, and Adani Ports and Special Economic Zone (APSEZ), India’s leading 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 up to 10 more years. The terminal was recently completed, three months ahead of schedule.
Karan Adani, chief executive, APSEZ, said: “This is a notable milestone for us, as with the commissioning of the new terminal, Mundra port will become India’s largest container handling port.”
CT4 will be the only container terminal on the west coast of India where the world’s largest container ships can call. Equipment includes four 65 tonnes capacity quayside gantry cranes, designed to handle 18,000 teu containerships. The terminal has a 650m long quay with a draft of 16.5 m, and yard equipment will include 12 RTGs. Annual capacity will be around 1.3 million teu to begin with.
For CMA CGM, CT4 is its first port investment in India, and demonstrates its ambition to further increase its presence in this fast-developing country. CMA CGM currently calls at 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.
“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, CEO, CMA CGM Group.
APSEZ continues to rapidly expand its container terminal network across India. The latest Mundra project complements APSEZ’s existing three container handling facilities, at Mundra, Hazira and Kattupalli, as well as its new transhipment hub, under construction, in Vizinjham, Kerala, and two other terminals being built at Ennore in Tamil Nadu and Dhamra in Odisha.