Adani Ports signs IMEC pact with France’s Port Marseille Fos to boost India-Europe trade connectivity

Shares of Adani Ports and Special Economic Zone (APSEZ) were trading in the red on Wednesday, February 18, despite announcing that it signed a memorandum of understanding (MoU) with France’s Port Marseille Fos.

The MoU was signed during the visit of French President Emmanuel Macron, the company said in a regulatory filing.

The integrated transport utility company said that it signed the pact with the “Mediterranean’s premier gateway” to deepen cooperation on trade facilitation, port innovation and energy transition.

Adani Ports stated that the partnership proposes the creation of an India–Middle East–Europe Economic Corridor (IMEC) Ports Club to strengthen cooperation among key ports along the IMEC route.

“This completes the IMEC pathway for India-EU trade, that has been boosted by the FTA (free trade agreement) between India and the EU, termed as ‘the mother of all deals’,” Adani Ports added.

The partnership will focus on promoting the IMEC route, and technical exchange and capacity building in port digitalisation, smart-port platforms, data interoperability, cybersecurity, alternative fuels, shore power supply and low-carbon bunkering.

Furthermore, developing the Mundra–Marseille Fos Green Maritime corridor, along with co-founding an IMEC Ports Club, will also be the focal point for the partnership.

Launched at the 2023 G20 Summit in New Delhi, the IMEC is a 6,000-km multimodal connectivity initiative linking India and Europe through integrated maritime routes, rail networks, digital systems and clean-energy pathways.

Commenting on the development, Ashwani Gupta, Whole-time Director & CEO of Adani Ports, said: “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.”

He added that their Hazira and Mundra ports on India’s western coast have already established a “seamless” pathway across the first and middle legs of the corridor.

With the MoU with the Port of Marseille Fos in France, Gupta stated that the company has now connected the final leg to Europe, adding, “This partnership will significantly accelerate the exchange of information and materials among all participating nations, further strengthening economic cooperation and supply-chain resilience.”

“We are pleased to strengthen our partnership with APSEZ at a moment when the IMEC corridor is entering a decisive phase. 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,” said Hervé Martel, CEO of the Port of Marseille Fos.

Despite the development, shares of Adani Ports were trading at ₹1,545.10 per unit on the National Stock Exchange (NSE), down by 1.35% at around 11:14 am.