APM Terminals signs MoU with JNPA on Intent to invest in Vadhavan Port
GANDHINAGAR : APM Terminals, one of the largest container terminal operators in the world, with a presence in 62 key locations globally, signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA). The MoU outlines a willingness and co-operation for the development of a new container terminal at the proposed mega port project at Vadhavan in the state of Maharashtra.
Located on the west coast about 150 kms north of Mumbai, Vadhavan Port is expected to be an ambitious and important port project, undertaken by the Government of India.
The port is excellently located with easy connections to the National Highway Road network and the Dedicated Freight Corridor (DFC) rail network. The project is being implemented through a SPV (Special Purpose Vehcicle) between JNPA and Maharashtra Maritime Board, who will develop and construct the primary infrastructure. APM Terminals currently operates two important infrastructures in India located at Pipavav and Nhava Sheva.
The signing of MoU took place at the Vibrant Gujarat Summit 2024 in the presence of the Honourable Minister of Ports, Shipping & Waterways and AAYUSH, Shri Sarbananda Sonowal and Global Chief Executive Officer of APM Terminals, Mr. Keith Svendsen. JNPA was represented at the event by Chairman In Charge, Shri Unmesh Sharad Wagh.
Mr. Jonathan Goldner, Regional Managing Director APM Terminals Asia Middle East said, “In recent years, APM Terminals has made significant investments at both APM Terminals Pipavav and APM Terminals Mumbai and delivered world class efficiency at both ports. We are excited to partner with JNPA in exploring the opportunity of the project at Vadhavan.
“We believe that Vadhavan’s location combined with our ability to build and operate world leading ports creates an attractive opportunity to support the growth of local manufacturers, exporters, importers, and the regional economy in general. The investment will drive the local economy by creating job opportunities for locals.”
The proposed Vadhavan port is a top priority project for the Government. To be developed at a cost of US$ 10+ billion [Rs.76220/- crores], the port will handle annual cargo of 23 million TEUs/ 254 million Tons. With a natural draft of 20 metres, it will be able to cater to larger container vessels of 20,000 TEUs. The project, once completed, will be one of the 10 largest ports globally and will act as a green fuel hub.