SOUTH Korea's Busan Port Authority (BPA) has announced that it concluded a memorandum of understanding (MoU) with Adani Ports and Special Economic Zone Limited, India's private port operator, for port logistics businesses in India.
The two parties agreed to jointly
develop warehouses and other logistics facilities in the ports and
inland container depots managed by Adani Group.
BPA president Kichan Nam commented: "India with high economic growth
rates and rising harbour volume has very great demands for logistics
infrastructure development. Busan Port Authority will closely cooperate
with India's largest port operator Adani Ports and SEZ, actively
pursuing various logistics business opportunities."
Adani Ports and SEZ Ltd, a part of the Adani Group, is India's largest
private multi-port operator. Among many container terminals it operates,
Mundra Port is one of the most important ports to the Group as it is
the gateway to the northwest region of India.
According to Alphaliner, Mundra Port has rapidly grown to become the
world's 36th largest port in 2018, handling 4.5 million TEU, an 11 per
cent increase from the previous year, reports Steel Guru, of Haryana,