- HMM has signed an MOU (MOU) with Jawaharlal Nehru Port Authority (JNPA) to cooperate in Vadhvan port development.
- Badban Port is a large-scale business that promotes new development as India’s main port, Navasheva Port, is saturated.
- The Indian government aims to invest a total of $9.4 billion (about 13.5 trillion won) to enter the world’s top 10 container ports by 2040.
HMM has inked a Memorandum of Understanding (MoU) with Jawaharlal Nehru Port Authority (JNPA) to collaborate on developing Vadhvan Port north of Mumbai, reports Maeil Business.
Development and operation of Vadhvan port
According to a statement by HMM, Vadhvan is a large-scale project by the Indian government that aims to become one of the world’s top 10 container ports by 2040.
Under the agreement HMM is to support the development and operation of the port which is expected to have a capacity of 23 million teu annually across nine berths.
The new port would have a natural deep of 20 metres, compared to 15.5 metres at Nhava Sheva and be able to accommodate vessels of 24,000 teu in capacity.
An HMM official stated, “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.”
The company plans to expand its services at Indian ports.
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Source: Maeil Business
