Adani-MSC in Massive India Expansion
In a bid to consolidate Mundra Port's operations and position the port as India’s largest container port, Adani Ports and Special Economic Zone and joint-venture partner Terminal Investment Limited (TIL) - subsidiary of MSC - have reached an agreement, according to the Journal of Commerce.
Under the agreement, Adani International Container Terminal (AICT) will be extended in order to boost its capacity from 1.5 million to 3.1 million TEU.
Adani Ports said: “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 tons of annual cargo by 2020.”
Diego Aponte, CEO and President of MSC, said: “We are pleased to partner with Adani on this terminal development and the expansion of AICT. We are confident that Mundra will become a major transshipment hub within South Asia.”
A joint-statement said: “The expansion will also exclusively position Mundra as the largest container port in the country with four state-of-the-art container terminals.”