APSEZ signs agreement with France co for Mundra port

Adani Group’s Adani Ports and Special Economic Zone (APSEZ) has signed a joint venture agreement with French shipping major CMA CGM to operate a new container terminal at Mundra Port for next 15 years.

This collaboration will see the Mundra Port becoming India’s largest container terminal port.

APSEZ said in a statement that it has signed the pact to operate a new container terminal (CT4) at Mundra Port for next 15 years with an option to extend it twice for 10 more years, the Ahmedabad-based port operator said in a statement.

“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,” Rodolphe Saade, chief executive officer, CMA CGM, said.

On his part, APSEZ CEO Karan Adani said it is a notable milestone for APSEZ saying with the commissioning of this terminal, Mundra port will become India’s largest container-handling port.

Image Credit : livemint.com

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