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HMM signs MOU with Indian port authority to develop Vadhvan port

HMM announced on the 23rd that it has signed a memorandum of understanding (MOU) for the development cooperation of the Vadhvan port with the Jawaharlal Nehru Port Authority (JNPA).

The signing ceremony was held in Mumbai, India, on the 21st, attended by more than 30 officials, including Sarbananda Sonowal, Minister of Ports, Shipping and Waterways of India, Unmesh Sharad Wagh, chairman of JNPA, and Jung Dal-jung, head of HMM India.

The Vadhvan port is a major project being developed as the main port of India, Nhava Sheva, has reached saturation, with plans to invest $9.4 billion by 2040. Through this MOU, HMM has agreed to cooperate in the development and operation of the Vadhvan port.

The Vadhvan port, which will open sequentially starting in 2029, will have a total of nine container terminals capable of handling approximately 23 million TEUs (1 TEU = one 20ft container) annually.

With a natural depth of 20 meters, it is possible for 24,000 TEU ultra-large container ships operated by HMM to dock, and it is well-connected to inland logistics due to its proximity to the Dedicated Freight Corridor (DFC) and national highways.

An HMM official noted, “By establishing a key hub port in India through this MOU, the competitiveness of container transportation and port operations will be strengthened,” adding, “We will continue to push for new terminal investments as part of our long-term strategy to expand integrated logistics business.”
Source: CHOSUNBIZ

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