CMA Terminals, APSEZ to jointly operate Mundra Terminal

CMA Terminals and India’s Adani Ports and Special Economic Zone signed a joint venture agreement to operate a the new CT4 container terminal at the Indian port for the next 15 years.

   CMA CGM Group’s subsidiary, CMA Terminals, and India’s Adani Ports and Special Economic Zone (APSEZ), a leading port infrastructure developer, have signed a joint venture agreement to operate a new container terminal, dubbed CT4, at Mundra Port for the next 15 years, with an option to extend twice for 10 more years, the companies said in separate press releases.
   The terminal’s cranes can accommodate 18,000-TEU vessels and have an annual capacity of 1.3 million TEUs.
   The project represents CMA CGM’s first port investment in India.
   “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,” CMA CGM’s CEO Rodolphe Saadé said.
   The CT4 project was completed three months ahead of schedule, making Mundra Port the largest container-handling port in the country, the companies said. “The port was already the country’s number one multi-purpose port facility,” CMA CGM’s release said. “CT4 will be the only container terminal on the west coast of India where the world’s largest containerships can call.”