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.

EDITORIAL OF THE DAY

  • Protocols need to be quickly put in place for the success of Digital India

    The government has kicked off Digital India initiative in style. Companies too have queued up in large numbers with bagfuls of money.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Simon J Evenett

Will Germany be able to deliver?

The BRICS aren’t the only countries whose stature has grown ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Gautam Gupta

The ‘fake’ issue needs to be taken seriously

E-commerce players are witnessing unbelievable growth globally. Competition is increasing ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture