Shares of Gujarat Pipavav Port Ltd ended 4% increased on twenty ninth October after the corporate introduced that it had signed a Memorandum of Understanding (MoU) with the Gujarat Maritime Board for future investments price Rs 17,000 crore.
Gujarat Pipavav Port, India’s first personal sector port, stated it has signed a non-binding MoU with the Gujarat Maritime Board for proposed investments at Pipavav Port. The plan relies on the corporate securing a long-term extension of its present concession. This concession expires in September 2028.
The proposed investments will deal with upgrading infrastructure and increasing capability throughout containers, liquid cargo, and Ro-Ro (roll-on/roll-off) operations. The corporate additionally goals to reinforce storage yards and rail sidings and to deploy superior gear to enhance effectivity.
Different plans embody deepening waterfront entry and boosting multimodal connectivity via ocean, rail, and street hyperlinks. Furthermore, they intention to type strategic partnerships to strengthen operations in Northwest India.
Final month, Gujarat Pipavav Port additionally acquired a contract from ONGC to supply port and storage services for its upcoming offshore provide base on the port.
At 3:30 PM, shares of Gujarat Pipavav Port ended 4.13% increased at Rs 165.55 on NSE.
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