Industry

Pipavav port to invest ₹700 crore in expansion

The board of APM Terminals Pipavav (Gujarat Pipavav Port Ltd.) has approved a ₹700 crore expansion plan to upgrade the port’s existing facility to handle bigger ships as well as to expand the container capacity to 1.6 million TEUs (twenty-foot equivalent units).

“The supply chain and the inland logistics are expected to significantly improve the reliability and reduce transit time going forward with the implementation of Western Dedicated Freight Corridor (DFC),” the company said.

This will improve overall cargo volume for imports and exports. About 40% of the total investments in the entire 1,535 km of the DFC is likely to be in Gujarat.

“With this investment, we aim to strengthen our network and continue to provide best in-class services to all our stakeholders,” Jakob Friis Sorenson, MD, APM Terminals Pipavav, said.

“The container yard capacity will be expanded once the cargo growth is visible post commissioning of DFC. We expectnormalcy in business to be restored by the second quarter of 2021,” he said.

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Printable version | Oct 22, 2020 3:50:32 PM | https://www.thehindu.com/business/Industry/pipavav-port-to-invest-700-crore-in-expansion/article32507948.ece

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