CMA CGM, Adani Team Up on Mundra Ports’ New Terminal
- Business & Finance
CMA Terminals (CMAT), a part of French shipping giant CMA CGM, and India’s port developer Adani Ports and Special Economic Zone Limited (APSEZ) have signed an agreement to jointly operate container terminal 4 at Mundra Port for 15 years.
In July 2014, APSEZ and CMAT signed a Joint Venture agreement and have now operationalised the new container terminal named Adani CMA Mundra Terminal Private Limited (ACMTPL). The parties informed that the deal has an option to be extended twice for 10 more years.
The partners have completed the CT4 project three months ahead of schedule making Mundra Port the largest container-handling port in the country. The port was already the country’s number one multi-purpose port facility.
As the only container terminal on the west coast of India where the world’s largest container ships can call, CT4 has four units of 65 tonnes capacity of rail mounted quay cranes capable of handling 18,000 TEU vessels and super post and ultra large container vessels (ULCV) and an annual capacity of 1.3 million TEUs, CMA CGM informed.
“This is a notable milestone for us, as with the commissioning of this terminal, Mundra port will become India’s largest container-handling port. This strategic partnership with CMA CGM in the Container Terminals business brings significant value to Mundra port,” Karan Adani, CEO, APSEZ, said.