AP Maritime Board signs pact with APM Terminals for development of seaports

VIJAYWADA : The Andhra Pradesh Maritime Board (APMB) and APM Terminals, a subsidiary of the Netherlands-based A.P. Moller Maersk, have entered into an agreement for the development of ports and creation of port infrastructure in the State.

Senior executives of the APMB and APM Terminals signed the pact in the presence of Chief Minister Shri N. Chandrababu Naidu at the Secretariat on Thursday.

As part of the agreement, APM Terminals would create infrastructure (modern terminals, cargo handling facilities etc.) at and manage the upcomingRamayapatnam, Machilipatnam, and Mulapeta seaports, an official release said.

The Dutch maritime sector giant would invest around ₹9,000 crore in the infra development in the Andhra ports, creating employment and livelihood opportunities for nearly 10,000 people.

On the occasion, Mr. Naidu stressed the significance of creating an economic ecosystem driven by seaports which play a major role in development, and sought the support of APM Terminals for bringing about an integrated logistics framework that covered cargo transportation through railways, roads, inland waterways and by air.

The State should take advantage of the dependence of Telangana and parts of Chhattisgarh, Maharashtra, Karnataka, and Odisha on Andhra Pradesh for their businesses, he suggested.

Secretary (Industries) N. Yuvaraj and APM Terminals MD (Asia & Middle East) Jonathan R. Goldner signed the agreement.

Minister for Roads and Buildings and Infrastructure B.C. Janardhan Reddy, Maersk Group Head (Public Policy & Regulatory Affairs – India, Bangladesh & Sri Lanka Region) Vivek Sharma, and Manager (Public Policy) Deepali Negi, APMB Chairman Damacharla Satya and CEO Praveen Aditya, and Pipavav Port MD Girish Agarwal were present.