APM Terminals Signs MoU to Develop New Container Terminal at Vadhavan Port

APM Terminals, a major global container terminal operator, signed a Memorandum of Understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to develop a new container terminal at the proposed mega port project at Vadhavan in Maharashtra. The MoU aims to facilitate cooperation and willingness for the development of upcoming projects at Vadhavan harbor, an ambitious port project expected to play a significant role in the Indian government’s plans. This project will be implemented via a special purpose vehicle (SPV) between JNPA and the Maharashtra Maritime Board.

The MoU was signed at the Vibrant Gujarat Global Summit 2024, with APM Terminal leaders expressing their commitment to the project and excitement for the partnership. They see the location of Vadhavan as an attractive opportunity to support the growth of local manufacturers, exporters, importers, and the regional economy. On the other hand, JNPA expressed its determination to make Vadhavan Port one of the top ten ports in the world, highlighting its potential to become a major player in global trade, with an expected capacity to handle 23 million TEU/254 million tonnes per annum.

The Vadhavan port project is expected to cost over $10 billion and will have a capacity to handle larger container ships of 20,000 TEU. Additionally, once completed, the project will act as a hub for environmentally friendly fuels and contribute to the growth of the local economy by creating employment opportunities for locals.

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