Maersk plans to allocate $5 billion to India, focusing on terminal infrastructure and inland logistics to bolster the country's trade and industrial growth. This announcement was made during a naming ceremony for the dual-fuel methanol vessel, Albert Maersk, in Mumbai, the first such event in India in over a century.
Maersk's Global CEO Vincent Clerc stated, "There is a bright spot. And this bright spot is India that has hit a stride and where we are seeing an acceleration of the growth and acceleration of development." The investment will primarily target ports, warehouses, and related technologies. Clerc explained, "We know how to develop and operate ports and warehouses. The lion's share of our investment is going to go to terminal and inland logistics infrastructure."
Current operations at major hubs such as JNPT are set to expand, with further projects along India's coastline and eastern regions under consideration.
As freight rates stabilize and trade demand rises, Maersk is enhancing its logistics network. Concurrently, the company is committed to sustainability and decarbonization, aligning with India's green energy ambitions. Clerc noted, "There is a great alignment between our goal for decarbonizing our operation and the vision for India becoming a powerhouse in green energies."
The Albert Maersk is part of Maersk's fleet renewal program, reinforcing the company's logistics network and innovation drive. The $5 billion investment aims to transform India's logistics landscape and support its green energy transition.
Source: CNBC