HMM, JNPA sign agreement for Vadhvan Port development
Vadhvan Port will handle 23 million TEUs annually and include nine container terminals.
(From left): Unmesh Sharad Wagh, Chairman, JNPA, Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways and Daljoong Jeong, Managing Director, HMM India.
South Korea-based HMM has signed a memorandum of understanding (MoU) with the Jawaharlal Nehru Port Authority (JNPA) to collaborate on developing Vadhvan Port in Maharashtra.
Under the MoU, HMM will support the development and operation of Vadhvan Port to become one of the world’s top 10 container ports by 2040. The port will handle 23 million TEUs annually and include nine container terminals, says an official release from HMM.
With a natural depth of 20 metres, deeper than the 15.5 metres at Nhava Sheva, the port can accommodate HMM’s 24,000 TEU vessels and offers strong connectivity to India’s inland logistics network, the release added.
"India’s market has drawn global attention, and HMM is expanding its services in the region, including INX (India North Europe Express), which will be starting in February this year, FIM (Far East-India Mediterranean) and IAX (India- America Express) routes."
An HMM official says: “We hope this partnership leads to strong cooperation for port development. We will continue investing in terminals to grow our integrated logistics business, a key part of our mid-to-long-term strategy."
Terminal Investment (TiL), majority owned by MSC Mediterranean Shipping Company, has proposed to invest Rs 20,000 crore for the development of Vadhvan Port.
JNPA has also signed agreements with CMA CGM, PSA and APM Terminals for investments to develop Vadhvan Port.
