APM Terminals signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA) for developing a new container terminal at the proposed mega port project at Vadhavan in Maharashtra. The MoU aims at initiating willingness and co-operation for development of the upcoming Vadhavan Port.
Located on the west coast at about 150 km north of Mumbai, Vadhavan Port is expected to be an ambitious and important port project undertaken by the Government of India. 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, an official release said here on Friday. 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 on the sidelines of Vibrant Gujarat Global Summit 2024 in the presence of Union Minister of Ports, Shipping & Waterways and AAYUSH, Sarbananda Sonowal, and Global Chief Executive Officer of APM Terminals, Keith Svendsen.
Significant investments
Jonathan Goldner, Regional Managing Director APM Terminals Asia Middle East, said, “In recent years, APM Terminals has made significant investments at both the existing facilities in India and delivering world class services. We are excited to partner with JNPA in exploring opportunities to develop the project at Vadhavan. We believe that the location of Vadhavan combined with our ability to build and operate leading ports in the world, creates an attractive opportunity to support the growth of the local manufacturers, exporters, importers, and the regional economy in general. The investment will enable in driving the local economy by creating job opportunities for the locals.”
The proposed Vadhavan port is a top priority project for the Government. To be developed at a cost of ₹76,220 crore, the port will have a capacity to handle annual cargo of 23 million TEUs/ 254 million tonnes. The port, with a natural draft of 20 meters, will be able to cater to the 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, the release added.