Busan Port Authority and Adani Ports & SEZ conclude MOU
The Busan Port Authority announced that it concluded a memorandum of understanding with Adani Ports & Special Economic Zone Limited, India’s private port operator, on July 18 for port logistics businesses in India.
The two parties of the memorandum agreed to jointly develop warehouses and other logistics facilities in the ports and inland container depots (ICDs) managed by Adani Group.
Adani Ports & 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, a shipping analysis institution, Mundra Port has rapidly grown to become the world’s 36th largest port in 2018, handling 4.5 million TEU, an 11 percent increase from the previous year.
On June 19, the BPA concluded a development agreement for establishing a distribution center with the Port of Rotterdam Authority and has been striving for other logistics business opportunities in ASEAN nations.