Adani Ports to Expand Terminal with MSC
Adani Group turns its flagship port and India’s biggest commercial port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co. SA (MSC), the world’s second biggest container shipping line.
Adani Ports & SEZ Ltd (APSEZL), part of the Adani Group, said it will expand its existing terminal International Container Terminal Private Limited (AICTPL) at Mundra port to develop it into a transshipment hub. AICTPL is a 50:50 joint venture with Terminal Investment Ltd.
"The expansion is being carried out to create a transhipment hub for the Middle East, South Asia and India. Upon completion, AICTPL will emerge as Indias largest container terminal with a total quay length of 1,460 meters and cargo handling capacity of 3.1 million TEUs (twenty foot equivalent unit," Adani Port said in a statement.
Post-expansion, the terminal will have 15 cranes, capable of handling 18,000 TEU-capacity container vessels.
The expansion of AICTPL will position Mundra as the major transhipment hub in the country providing congestion free and cost effective solution, the company said adding, construction has already commenced and the terminal will be commissioned in 15 months.
Karan Adani, Chief Executive Officer, Adani Ports and Special Economic Zone, said, "We are pleased to take our partnership with Mediterranean Shipping Company (MSC) to the next level. With this expansion, Mundra will emerge as a transshipment hub for the Middle East, South Asia and India.
It will also make Mundra the largest container port in India with a cumulative capacity of 6.6 million TEU and will help in achieving our vision of handling 200 Million Metric Tonnes (MMT) of annual cargo by 2020, added Karan.
Diego Aponte CEO and President of MSC said, "We are confident that Mundra will become a major transhipment hub within South Asia."
