Andhra partners APM Terminals to develop 3 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.

- SHINE JACOB

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.