 "Andhra seals ₹9K cr deal with Maersk arm to develop three state ports")
The Andhra Pradesh government signed a deal with the world's oldest port operator, APM Terminals, on Friday to develop infrastructure and modernise the Ramayapatnam, Machilipatnam, and Mulapeta ports in the state, at an investment of ₹9,000 crore.
APM Terminals is a subsidiary of Denmark’s Maersk, the world’s second-largest shipping company.
Earlier this year, Maersk had announced plans to invest $5 billion in India’s maritime infrastructure, spread over ports, terminals, and land-based facilities.
Maersk operates in 130 countries through its shipping and port operations. According to a government source, the effort is to transform the state into the East Coast gateway for maritime trade.
“With an investment of ₹9,000 crore, APM Terminals will develop infrastructure and modernise the Ramayapatnam, Machilipatnam, and Mulapeta ports. The company will establish and operate modern terminals and cargo handling systems at these ports,” a source said.
The memorandum of understanding (MoU) was signed in the presence of Chief Minister N Chandrababu Naidu. This initiative is expected to create direct employment opportunities for about 10,000 people.
Naidu emphasised that APM Terminals’ services should also boost domestic cargo movement across India.
He suggested that an economic ecosystem should be developed around the ports. Highlighting the state’s vision, Naidu said that the goal is to make Andhra Pradesh a future-ready economy through world-class ports and logistics.
The chief minister has also instructed officials to prepare a comprehensive plan to position Andhra Pradesh as the logistics hub of India.
He requested APM Terminals to extend support in preparing an integrated plan for cargo movement through rail, road, inland waterways, and air.
As part of a long-term roadmap to develop its 1,053-km-long coastline, the government has already initiated a strategy to establish a port or harbour every 50 km.
The CM noted that Telangana, Chhattisgarh, as well as parts of Maharashtra, Karnataka, and Odisha depend on ports in Andhra Pradesh. Hence, the plan should ensure cost-effective cargo transport from these regions.
Maersk has already made significant investments in India in ports, terminals, warehouses, offices, technology, and global capability centres. This includes Pipavav port in Gujarat, for which it recently sought an extension of its 30-year concession, ending September 2028.