APM Terminals signs MoU with JNPA on Intent to invest in Vadhavan Port Project

APM Terminals, one of the largest container terminal operators in the world, with presence in 65 key locations globally, today signed a Memorandum of Understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA) on development of 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 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 Government of India. It has 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, 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 on the side of Vibrant Gujarat Global Summit 2024 in the presence of Honourable Minister of Ports, Shipping & Waterways and AAYUSH, Shri Sarbananda Sonowal and Global Chief Executive Officer of APM Terminals, Mr. Keith Svendsen. Shri Unmesh Sharad Wagh [IRS], Chairman in Charge, JNPA and Mr. Jonathan Goldner, Regional Managing Director APM Terminals Asia Middle East signed the Memorandum of Understanding.

Mr. 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 opportunity 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 local economy by creating job opportunities for the locals.”

Expressing his enthusiasm for this strategic partnership, Mr. Unmesh Sharad Wagh IRS, Chairman in Charge, JNPA, remarked, “We are delighted to announce the signing of the Memorandum of Understanding between Jawaharlal Nehru Port Authority (JNPA) and APM Terminals, marking a significant milestone in the development of the Vadhavan Port Project. 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. We welcome APM Terminals as a partner in this ambitious venture.”

The proposed Vadhavan port is a top priority project for the Government. To be developed at the cost of US$ 10+ billion [Rs.76220/- crores], the port will have capacity to handle annual cargo of 23 million TEUs/ 254 million Tons. The port, with 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.

Marex Media