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Maersk to invest US$226 million to boost Indian port of Pipavav
POSTED: 2:24 p.m. EDT, January 29,2007

Danish shipping giant AP Moller-Maersk will invest INR10 billion (US$226.9 million) to develop a container berth at the Gujarat Pipavav Port, India's first private harbour, according to a report in the Business Standard of India.

The port, operated by APM Terminals, will set up the new container berth with a quay length of 385 metres, in addition to an existing 350-metre container berth.

APM is the largest shareholder in the port while minority shareholders include New York Life International India Fund (Mauritius) LLC, IDFC Infrastructure Fund, IL&FS Trust Company, Jacob Ballas Capital India, UTI, IDBI and India Infrastructure Fund.

The report, quoting a port source, said the project aims to enhance container-handling and boost capacity. Currently, the port's annual capacity is 500,000 TEU, which is expected to be doubled.

The port has already opened the new container berth. GPPL has placed orders for three new post panamax quay cranes and 10 additional RTGCs (rubber tyre gantry cranes). The expansion is likely to be completed by mid-2008, the report added.

GPPL offers seven mainline shipping services covering all major trade routes. There are two direct weekly services to US east coast, two to Europe and three to the Far East and China. Shipping lines calling at Pipavav include Maersk, Hyundai NYK, MOL and K line.


From:Schednet
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