Adani Ports and Special Economic Zone signed an agreement with the CMA CGM Group of France to develop a new comman user container terminal at Mundra Port.
Buying continued in shares of Adani Ports and Special Economic Zone , the largest port developer in India, after it signed an agreement with the CMA CGM Group of France to develop a new comman user container terminal at Mundra Port. The stock gained as much as 2.7 percent intraday to touch a record high of Rs 282.50 Monday.
"This will be the fourth container terminal in Mundra capable of handling 1.3 million TEUs (twenty-foot equivalent unit) annually," the company says in its filing. The project, which comprises of design and construction of a 650 meters terminal along with 27 hectares of back area with a water depth of 16.5 meters, will be completed in 24 months.
This 50:50 JV partnership further augments APSEZ’s existing two container handling locations at Mundra and Hazira along with its already announced two container terminals to be constructed at Ennore in Chennai and Dhamra in Odisha. The transaction is subject to approvals from the regulators as maybe required including the competition commission of India, MoCI and the GMB, says the company.
Buying continued in shares of Adani Ports and Special Economic Zone , the largest port developer in India, after it signed an agreement with the CMA CGM Group of France to develop a new comman user container terminal at Mundra Port. The stock gained as much as 2.7 percent intraday to touch a record high of Rs 282.50 Monday.
"This will be the fourth container terminal in Mundra capable of handling 1.3 million TEUs (twenty-foot equivalent unit) annually," the company says in its filing. The project, which comprises of design and construction of a 650 meters terminal along with 27 hectares of back area with a water depth of 16.5 meters, will be completed in 24 months.
This 50:50 JV partnership further augments APSEZ’s existing two container handling locations at Mundra and Hazira along with its already announced two container terminals to be constructed at Ennore in Chennai and Dhamra in Odisha. The transaction is subject to approvals from the regulators as maybe required including the competition commission of India, MoCI and the GMB, says the company.
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