APM Terminals Pipavav to invest Rs 700 crore for expansion
The company will spend the amount for upgrading existing facilities for handling bigger ships and increasing the container capacity to 1.6 million twenty-foot equivalent units (TEUs)
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) will invest Rs 700 crore as part of the company’s expansion plan. The stated investment will be utilised for upgrading the port's existing facility to handle bigger ships and eventually expand the container capacity to 1.6 million twenty-foot equivalent units (TEUs).
Jakob Friis Sorenson, Managing Director, APM Terminals Pipavav, said, “With this investment, we aim to strengthen our network and continue to provide best in-class services to all our stakeholders. However, we are awaiting the confirmation of concession extension from Gujarat Maritime Board (GMB) to execute the expansion plan. The container yard capacity will be expanded once the cargo growth is visible post commissioning of DFC. We expect the world economy and business to follow an expanded 'U' curve and normalcy in business to be restored by the second quarter of 2021.”
The supply chain and the inland logistics is expected to significantly improve the reliability and reduce transit time going forward with the implementation of Western Dedicated Freight Corridor (DFC). This will improve overall cargo volume for imports and exports. About 40 per cent of the total investments in entire 1,535 km of DFC is likely to be in Gujarat, which has around 37 per cent of area covered of complete stretch.
The port operations are imperative to ensure that the supply chain remains uninterrupted and availability of essential supplies is maintained. Ports are the lifelines of the maritime supply chain. Even during the lockdown period, APM Terminals Pipavav successfully operated without having a single positive case amongst our people, a testimony of the care taken of their employees and the community around.
APM Terminals Pipavav (Gujarat Pipavav Port Ltd) is one of India’s leading gateway port for containers, Ro/Ro (passenger cars), liquid bulk and dry bulk cargoes serving customers in the state of Gujarat with road and rail networks to India’s hinterland and northwest. The current annual cargo handling capacity includes 1.35 million TEU containers, 250,000 Passenger cars, 2 million metric tons of Liquid bulk and 4 million metric tons of Dry bulk. APM Terminals Pipavav is India's first public private partnership (PPP) port in India and is a part of the APM Terminals global terminal network.