New Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ) has signed a memorandum of understanding with France’s Port of Marseille Fos to deepen cooperation on trade facilitation, port innovation, and energy transition.
It is a great partnership as APSEZ is the world’s fastest-growing integrated transport utility, and the Port of Marseille Fos is France’s leading port and the Mediterranean’s premier gateway.
Both the companies will focus strengthening connectivity along the India–Middle East–Europe Economic Corridor (IMEC).
“This partnership proposes the creation of an IMEC Ports Club to strengthen coordination among key ports along the India–Middle East–Europe Economic Corridor (IMEC) route, reinforcing connectivity between India and the European Union. This completes the IMEC pathway for India-EU trade, that has been boosted by the FTA between India and the EU, termed as ‘the mother of all deals’ by the Hon’ble Prime Minister of India Narendra Modi,” a media release from Adani Ports stated.
Notably, the MoU has been signed when French President Emmanuel Macron is on a visit to India.
IMEC was launched at the 2023 G20 Summit in the national capital. It is a 6,000-km multimodal connectivity initiative linking India and Europe through integrated maritime routes, rail networks, digital systems and clean energy pathways.
On the eastern gateway of IMEC, APSEZ’s ports at Mundra and Hazira form a multimodal logistics hub connecting South Asia to West Asia. Through this MoU, Marseille Fos strengthens the western European gateway of the corridor, adding approximately 70 million tonnes of capacity and extending IMEC’s reach deeper into Europe, the release mentioned.
On IMEC’s eastern gateway, APSEZ’s ports at Mundra and Hazira serve as a multimodal logistics hub connecting South Asia to West Asia. Marseille Fos will strengthen the corridor’s western European gateway, adding about 70 million tonne of capacity and extending IMEC’s reach deeper into Europe.
Both the companies will focus on promoting the IMEC route and develop the Mundra-Marseille Fos Green Maritime Corridor and co-found the IMEC Ports Club to institutionalise dialogue among corridor ports and coordinate policy and investment inputs.
“India has already taken a leadership role in advancing this corridor, and with the conclusion of the India-EU Free Trade Agreement, trade between the participating countries is expected to grow manifold,” said Ashwani Gupta, CEO, APSEZ.
“At APSEZ, our ports in Hazira and Mundra on India’s western coast have already established a seamless pathway across the first and middle legs of the corridor. With this MoU with the Port of Marseille Fos in France, we have now successfully connected the final leg to Europe,” he said.
Hervé Martel, CEO of the Port of Marseille Fos, added: “India and Marseille stand at the two extremities of this future trade backbone, giving both ports a major responsibility in structuring and energizing this new route. Together, we intend to mobilize and federate the ports involved, and to act as strong advocates of a more efficient, resilient and sustainable connection between our regions.”