French shipping group ‘calls off’ plan to sell stake in Mundra terminal to Chinese firm
March 16, 2021
A container terminal at Mundra Port in Gujarat - REUTERS×
Move comes after govt declines consent French shipping group CMA CGM is said to have dropped plans to sell the 50 per cent stake held by its unit CMA Terminals Holding in Adani CMA Mundra Terminal Private Limited (ACMTPL) at Mundra port to China Merchants Port Holdings Company Ltd (CMP) after the government declined consent.
ACMTPL is an equal joint venture between Adani Ports and Special Economic Zone Ltd (APSEZ) and CMA Terminals Holding, a unit of CMA CGM S A, the world’s third largest container shipping firm, that runs a 1.3 million twenty- foot equivalent units (TEUs) capacity terminal at Mundra port, India’s biggest commercial port by volumes handled.