MSC investing in India
Container terminal operator Terminal Investment (TIL), part of the Mediterranean Shipping Company (MSC), is investing in India. It recently took over 49% of the shares of the Ennore Container Terminal (AECT). The box terminal is located 30 km north of Chennai Port and belongs to the conglomerate of Adani Ports. It currently operates a quay of 400 m, and its concession will last until 2044.
The terminal’s current annual container handling capacity of 800,000 teu can be expanded to 1.4 million teu per year. AECT handled 550,000 teu in its FY 2022/2023. In the first eight months of the current fiscal year, its throughput was 450,000 teu.
This recent investment represents TIL’s second cooperation with Adani Ports and Special Economic Zone (APSEZ). Both companies also run a joint venture to share the operation of the CT3 Container Terminal at Mundra Port. (cd)