French firm to expand India port with Adani

Tags: Adani, Companies
CMA CGM Group, the world's third-biggest container shipping group, will partner with India's Adani Ports and Special Economic Zone Ltd to build a new container terminal in western India, the French firm's first port investment in the country.

The terminal, the fourth at Adani's Mundra complex in the state of Gujarat, will be built over two years in a 50-50 joint venture, Adani Ports said in a statement on Friday.

The terminal will add 30 percent to Mundra's capacity, making it the biggest port in India, Adani Ports said.

Adani Ports, part of billionaire Gautum Adani's conglomerate, has expanded its ports business in recent years to become the country's largest port developer. In May, it said it had bought the port of Dhamra on the eastern coast of India.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The big challenge before India now is to figure out the real China

    Sino-Indian relations come under a rather special category, as far as ties between two neighbouring countries go.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Risks and effects of climate change

Research has shown that several people are aware of climate ...

Parvez Imam

Why we all have blood on our hands

What does the Jammu and Kashmir flood make us think? ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture