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Adani Ports forms JV with French group for container terminal at Mundra

July 10: Adani Ports and SEZ recently signed an agreement to form a 50: 50 joint ventures with French group CMA CGM through its dedicated subsidiary CMA Terminals to develop 4th container terminal in Mundra with a capacity of 1.3 million TEUs, the company said in a statement.

The construction of the terminal is expected to be completed within a year. “Following this announcement, the construction phase will be initiated immediately and completion will be in a record 24 months," the statement said, “The project comprises of design and construction of a 650 meters terminal along with 27 hectares of back area with a water depth of 16.5 meters.”

“The strategic value of such a partnership with CMA CGM opens up a whole set of additional opportunities and synergies for both the companies” said Gautam Adani, Chairman of the Adani Group.

He added that this will stimulate the growth of cargos assisting Adani Ports to fulfil its target of handling 200 million tons of cargo before 2020.

Mundra container terminal is the first investment of CMA CGM, the group in Indian ports.
As per the agreement, the transaction is subject to approvals from the regulators as maybe required, including the Competition Commission of India, Ministry of Commerce and Industries and the Gujarat Maritime Board.