ASIA

€80m expansion plan for Indian port

6 years ago

An expansion plan at an Indian port will see its facilities upgraded to handle bigger ships and annual container capacity increased 1.35 to 1.6m TEUs.

The Board of APM Terminals Pipavav [Gujarat Pipavav Port Ltd] has approved the approximately €80m expansion plan.

“With this investment, we aim to strengthen our network and continue to provide best in-class services to all our stakeholders,” commented Jakob Friis Sorenson, Managing Director, APM Terminals Pipavav. “We are however awaiting the confirmation of concession extension from Gujarat Maritime Board (GMB) to execute the expansion plan.”

With the implementation of a Western Dedicated Freight Corridor (DFC) supply chain and inland logistics are expected to see significantly improvements in reliability and reduce transit time going forward. This will improve overall cargo volume for imports and exports. About 40% of the total investments in the 1,535 km DFC is likely to be in Gujarat, which accounts for around 37% of the area covered by the DFC.

“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,” added Mr Sorenson.