Adani Ports and Special Economic Zone Ltd (abbreviated the APSEZ) announced on Friday that it had entered into a second strategic partnership with Mediterranean Shipping Company’s (the MSC) arm, Terminal Investment Limited (abbreviated TiL), for the seamless operation of Adani Ennore Container Terminal Pvt Ltd (popularly known as the AECTPL).
TiL is a partner of MSC, which is the world’s largest container shipping line. The corporation is planning to buy a whopping 49% interest in AECTPL from the APSEZ through a subsidiary called Mundi Ltd for Rs 247 crore.
Following the 2013 JV with TiL for the Adani International Container Terminal Pvt Ltd (abbreviated the AICTPL), which administers CT3 Container Terminal at Mundra Port, the country’s largest private commercial port, this is the firms’ second joint venture.