Maersk's APM Terminals plans to invest in Pipavav port
MAERSK's APM Terminals Pipavav has approved a major IRS7 billion (US$94
MAERSK's APM Terminals Pipavav has approved a major IRS7 billion (US$94.7 million) expansion plan for India's first private sector port, reports Dubai's Dubai's Maritime Standard.
The investment in the west coast of India port 152 nautical miles from Mumbai, will be used to upgrade the port's existing facilities to handle bigger ships and increase annual container capacity from 1.35 million to 1.6 million TEU.
This will accommodate increased demand that is expected as a result of the implementation of a Western Dedicated Freight Corridor (DFC).
'With this investment, we aim to strengthen our network and continue to provide best in-class services to all our stakeholders,' said APM Terminals Pipavav chief Jakob Friis Sorenson.
'We are, however, awaiting the confirmation of a concession extension from Gujarat Maritime Board (GMB) in order to execute the expansion plan. The container yard's capacity will be expanded once cargo growth is visible after commissioning of the DFC.'