APM Terminals, a subsidiary of the global shipping and port management giant A.P. Moller-Maersk, recently signed an MoU with the AP Maritime Board for the development of ports in the state.

With an investment of Rs 9,000 crore, APM Terminals will develop infrastructure and modernize the Ramayapatnam, Machilipatnam, and Mulapeta ports.

The MoU was signed in the presence of Chief Minister Mr N. Chandrababu Naidu. As per an official release from the government the company will establish and operate modern terminals and cargo handling systems at these ports.

This initiative is expected to create direct employment opportunities for about 10,000 people. The CM emphasized that APM Terminals’ services should also benefit domestic cargo movement across India.

He suggested that an economic ecosystem should be developed around the ports.

Highlighting the state’s vision, the CM stated that the goal is to make Andhra Pradesh a future-ready economy through world-class ports and logistics. The CM 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 routes.

The CM noted that Telangana, Chhattisgarh, as well as parts of Maharashtra, Karnataka, and Odisha depend on AP’s ports, and hence the plan should ensure cost-effective cargo transport from these regions. He further stated that with AP’s 1,053 km long coastline, the government has initiated a strategy to establish a port or harbour every 50 km.

The MoU signing ceremony between APM Terminals and the AP Maritime Board was attended by Minister B.C. Janardhan Reddy, Maritime Board Chairman Mr Damacharla Satya, Industries Department Secretary Mr Yuvraj, senior officials, and representatives of APM Terminals.