CMA CGM and Adani Ports Sign JV
Shipping group CMA CGM and Adani Ports and Special Economic Zone (APSEZ) have signed a joint venture to operate a new container terminal (CT4) at Mundra Port, India, for the next 15 years.
According to MANA, the two partners have completed the CT4 project three months ahead of schedule making Mundra Port the largest container-handling port in the country.
CT4 will be the only container terminal on the west coast of India where the world’s largest container ships can call.
“This strategic partnership with CMA CGM in the container terminals business brings significant value to Mundra port,” said Karan Adani, ceo, APSEZ.
“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.”
The terminal spans over 27 hectares, with a 650m long quay and a draft of 16.5m.
This new investment adds to the 27 container terminals that CMA CGM has in its portfolio.