The country’s first private sector port informed the exchanges that it has entered into a non-binding MoU with the Gujarat Maritime Board for proposed investments at Pipavav Port. The investment proposal, however, is subject to the company securing a long-term extension of its existing concession, which is currently valid until September 2028.
According to the exchange filing, the planned infrastructure revamp aims to enhance capacity across segments including containers, liquid cargo and roll-on/roll-off (Ro-Ro) operations, along with expanding storage yards and rail siding capacity.The company also outlined plans to deploy specialised equipment, deepen waterfront access and strengthen multimodal connectivity across ocean, rail and road networks to better serve the Northwest region of India. Strategic partnerships will also form part of this expansion blueprint.
Also Read: REC shares erase post earnings decline after management assuranceLast month, the port operator received a letter from Oil and Natural Gas Corporation (ONGC) awarding a contract for hiring port and storage facilities at Pipavav Port. Under this arrangement, Gujarat Pipavav Port will provide marine support and storage infrastructure within its premises as ONGC establishes its offshore supply base at the site.
Following the announcement, shares of Gujarat Pipavav Port rose as much as 5% to hit an intraday high of ₹166.90 on the BSE. By 12:30 pm, the stock was trading 4.2% higher at ₹165.55.
Over the past month, the company’s shares have gained nearly 4%, rising over 34% in the last six months. However, the stock remains down about 9% so far in 2025.
(Edited by : Sheersh Kapoor)
