New Delhi: 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.
