{"id":7228,"date":"2004-06-01T00:00:00","date_gmt":"2004-05-31T23:00:00","guid":{"rendered":"https:\/\/portstrategy.nfdtesting.uk\/greenport\/2004\/06\/01\/apmt-assumes-control-of-pipavav\/"},"modified":"2004-06-01T00:00:00","modified_gmt":"2004-05-31T23:00:00","slug":"apmt-assumes-control-of-pipavav","status":"publish","type":"post","link":"https:\/\/www.portstrategy.com\/greenport\/news\/asia\/apmt-assumes-control-of-pipavav\/","title":{"rendered":"APMT assumes control of Pipavav"},"content":{"rendered":"<p>This process has been given the blessing of the Indian authorities, who have given permission for foreign direct investment to be increased from 49% to 100%. The money raised via the share issue is needed to fund construction of a new dedicated container terminal which will have an annual capacity of 1.3m TEUs.<\/p>\n<p>The new facility is to be built around three dry bulk berths at the port, which will be expanded to enable them to accommodate post-Panamax box vessels. This will include deepening the draught from the present 10.5 metres.<\/p>\n<p>The initial building phase, which will be concluded next year, will result in a 440 metre long quay being created for container vessels. Four super-post-Panamax quayside gantry cranes and 10 RTGs are being acquired with the entire stacking yard occupying 30ha. A CFS and dock rail terminal are also to be built.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>APM Terminals, which currently holds a 12.5% stake in Indias first private port company, Gujarat Pipavav Port Ltd (GPPL), is to assume management control of operations as part of a restructuring plan which will also see it buy the 37% stake held by Sea King Infrastructure Ltd. However, with current and potential investors then to be asked to inject fresh capital into the company via a rights issue, its own stake will become 26%, which will nevertheless leave it as the largest shareholder.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69],"tags":[],"sponsor":[],"class_list":["post-7228","post","type-post","status-publish","format-standard","hentry","category-asia"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/comments?post=7228"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/posts\/7228\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/media?parent=7228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/categories?post=7228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/tags?post=7228"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/greenport\/wp-json\/wp\/v2\/sponsor?post=7228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}