The prime ministers of India and Singapore gave speeches yesterday ahead of the inauguration of what will become India’s largest container terminal.
With the inauguration of its phase two expansion, PSA Mumbai is poised to become India’s largest container terminal, doubling its annual handling capacity to 4.8m teu. Designed to accommodate multiple mega container vessels alongside with 2,000m of continuous quay length, PSA Mumbai is the result of $1.3bn committed by PSA under a public-private partnership model, the largest foreign direct investment from Singapore in India to date.
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India is accelerating container terminal developments across the country. Last month, Maersk’s port operating arm, APM Terminalssigned a memorandum of understanding with India’s Andhra Pradesh Maritime Board to invest $1.1bn in the development of three key ports in the state.
India has attracted other global carriers, with MSC, the world’s largest boxship operator, also eyeing multiple opportunities in the country.
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