Adani Ports to partner CMA CGM for fourth container terminal at Mundra
Adani Ports & SEZ signed an agreement with France’s CMA CGM Group to develop a new common user Container Terminal at Mundra Port. This will be the fourth container terminal in Mundra spanning 650 meters along with 27 hectares of back area capable of handling 1.3 million TEUs annually.
Following this announcement, the construction phase is expected to be initiated with immediate effect and completed within 24 months. This terminal will initially have four units of 65 tonne capacity of rail mounted quay cranes capable of handling 18,000 TEU vessels and super post and ultra large container vessels. These cranes would, by far, be the largest and first of its kind in India. 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.
“We are very pleased with this JV partnership that will help put our continued expansion at the Mundra port on an even steeper trajectory. The strategic value of such a partnership with a major global player like CMA CGM is hugely significant and opens up a whole set of additional opportunities and synergies for both the companies” said Gautam Adani, chairman of the Adani Group.
This 50:50 JV partnership will help Adani Ports expand its container terminals footprint across India’s coastline and further augment its existing two container handling locations at Mundra and Hazira, The port already has announced two container terminals to be constructed at Ennore in Chennai and Dhamra in Odisha. It will allow Adani Ports to fulfill its stated vision of handling 200 million metric tonnes of cargo well before the year 2020.
For CMA CGM, Mundra Container Terminal is the group’s first port investment in India, adding to the 27 container terminals that CMA CGM Group has in its portfolio, and is a key step in its strategy to further expand its position in port operations.
Farid T. Salem, executive officer of CMA CGM Group said, “With this investment, CMA CGM and Adani Ports will develop a state-of-the-art infrastructure that will play a key role for the development of the country’s industry. CMA CGM has strong ambitions in India. We have already a strong presence in India, through our 24 offices and our eight direct shipping services. We are convinced our partnership with Adani Ports will significantly reinforce this strategy.”
As per the agreement, the transaction is subject to approvals from the regulators as maybe required including the competition commission of India, MoCI and the GMB.
