Container shipping magnate CMA CGM will make its first port investment in India, after announcing plans to build a new container terminal in the state of Gujarat, according to Reuters.
The move will be facilitated under a joint veture with India firm Adani Ports. The new terminal will increase the capacity at Adani’s Mundra complex by 30 per cent, making it the largest Port in India, according to Reuters’ report.
Adani has established itself as one of India’s leading port developers, having bought the port of Dhamra on India’s east coast in May. The group is owned by Indian entrepreneur Gautum Adani.
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