Adani Ports and Special Economic Zone Ltd (APSEZ) has signed an agreement with France’s CMA CGM Group — the world’s third largest container shipping company — to develop a new “common user” Container Terminal at an estimated cost of Rs 2100 crore at Mundra port in Kutch district. This will be the fourth container terminal at Mundra.
The project comprises design and construction of 650 meters jetty, with a water depth of 16.5 meters.
It will also have an area of 27 hectare that will be capable of handling 1.3 million TEUs (20-ft equivalent units) annually, stated an official release here on Friday.
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This announcement comes just a day after French Consul General Jean-Raphael Peytregnet met Gujarat Chief Minister Anandi Patel and discussed matters of bilateral co-operation.
The terminal will initially have four units of 65 tonne capacity of Rail Mounted Quay Cranes, capable of handing 1,800 TEU vessels and Super Post and Ultra Large Container Vessels. These cranes will be the largest and first of its kind in India, the company claimed.
“We are very pleased with this JV partnership that will help put our continued expansion at 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,” stated Gautam Adani, chairman of the Adani Group about the 50:50 joint-venture in the release.
“This (new container terminal) will make Mundra the largest container port in the country,” he added about the project that is expected to be completed in the next 24 months and take Mundra total container handling capacity to 5.5 million TEUs.
In 2013-14, Mundra handled 101 MMT (million metric tonne) cargo, making it the largest commercial port in India. In case of containers, the port handled 2.39 million TEUs, registering a 38 per cent annual growth.
Besides Mundra, APSEZ currently operates container terminals at Hazira and plans to construct two additional terminals at Ennore in Chennai and Dhamra in Orissa.
“CMA CGM has strong ambitions in India. We already have a strong presence in India through our 24 offices and eight direct shipping services. We are convinced our partnership with Adani Ports will significantly reinforce this strategy,” stated Farid T Salem, executive officer of the French Group that operates a fleet of 428 vessels and serves more than 400 ports around the world.
In 2013, the Group carried 11.4 million TEUs.