APM Terminals signs MoU with Jawaharlal Nehru Port Authority for Vadhavan Port project

Mumbai: In a mega deal, the Netherlands-headquartered APM Terminals, one of the largest container terminal operators in the world, signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) on development of a new container terminal at the proposed mega port project at Vadhavan in Maharashtra.

APM Terminals have a presence in 65 key locations globally and leverages over half a century of experience developing and operating advanced ports and container terminals.

The MoU aims at initiating willingness and co-operation for the development of the upcoming Vadhavan Port. Located on the west coast at about 150 kms north of Mumbai, Vadhavan Port is expected to be an ambitious and important port project undertaken by the Centre.

It has a natural draft of about 20 metres and will have easy connections to the National Highway Road network and the Dedicated Freight Corridor (DFC) rail network.

The project is being implemented through an SPV between JNPA and Maharashtra Maritime Board, which 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 in the presence of Minister of Ports, Shipping & Waterways and AAYUSH Sarbananda Sonowal and Global Chief Executive Officer of APM Terminals Keith Svendsen, on the sidelines of Vibrant Gujarat Global Summit 2024.

Unmesh Sharad Wagh, Chairman in Charge, JNPA and Jonathan Goldner, Regional Managing Director APM Terminals Asia Middle East signed the MoU.

“The Vadhavan Port, situated strategically on the west coast, holds immense potential to emerge as a key player in global trade. The signing of this MoU at the Vibrant Gujarat Global Summit 2024 reflects the strong support of the Government of India and our determination to make Vadhavan Port one of the 10 largest ports globally. Once completed, Vadhavan Port will not only contribute to the growth of the local economy but also position itself as a green fuel hub, embodying sustainability in every aspect,” Wagh said in a press statement.

The proposed Vadhavan port is a top priority project for the Centre. To be developed at the cost of US $ 10+ billion (Rs 82,969 crores), the port will have capacity to handle annual cargo of 23 million TEUs/ 254 million tons.

The port, with a natural draft of 20 meters, will be able to cater to the larger container vessels of 20,000 TEUs. Once completed, the project will be one of the 10 largest ports globally and will act as a green fuel hub.