APM Terminals, JNPA sign MoU for container terminal at Vadhavan Port
Vadhavan Port is being implemented through an SPV between JNPA and Maharashtra Maritime Board
APM Terminals and Jawaharlal Nehru Port Authority (JNPA) signed a memorandum of understanding (MoU) for the development of a new container terminal at the proposed mega port project at Vadhavan in Maharashtra.
Unmesh Sharad Wagh, Chairman In Charge, JNPA and Jonathan Goldner, Regional Managing Director, Asia & Middle East, APM Terminals signed the MoU, says a release from APM Terminals.
Located on the west coast, about 150 kms north of Mumbai, Vadhavan Port is expected to be an important project undertaken by the Government of India, the release added. "It has a natural draft of about 20 metres and will have easy connections to the National Highway network and the Dedicated Freight Corridor (DFC) rail network."
The project is being implemented through an SPV between JNPA and Maharashtra Maritime Board, who will develop and construct the primary infrastructure, the release added.
Goldner says: “APM Terminals has made significant investments at both the existing facilities in India and delivering world class services. We are excited to partner with JNPA in exploring the opportunity to develop the project at Vadhavan. We believe that the location of Vadhavan, combined with our ability to build and operate leading ports in the world, creates an attractive opportunity to support the growth of the local manufacturers, exporters, importers, and the regional economy in general. The investment will enable in driving local economy by creating job opportunities for the locals.”
Wagh adds: “We are delighted to announce the signing of the MoU, marking a significant milestone in the development of the Vadhavan Port project. The Vadhavan Port, situated on the west coast, holds immense potential to emerge as a key player in global trade. The signing of this MoU at the Vibrant Gujarat Global Summit 2024 reflects the strong support of the Government of India, and our determination to make Vadhavan Port one of the 10 largest ports globally.
"Once completed, Vadhavan Port will not only contribute to the growth of the local economy but also position itself as a green fuel hub, embodying sustainability in every aspect. We welcome APM Terminals as a partner in this ambitious venture."
To be developed at the cost of $10+ billion, the port will have capacity to handle annual cargo of 23 million TEUs, the release added.
APM Terminals currently operates two important projects in India located at Pipavav and Nhava Sheva.