Gujarat Pipavav Port Ltd will invest Rs 260 crore to deepen the channel's draft from the current 12.5m to 14.5m. The project, awarded to Zinkcon Marine Singapore (Pte) Ltd, a subsidiary of Royal Boskalis Westminister, is expected to be completed by mid-2009.
The port has also undertaken construction of a new container yard to support an annual container traffic of 0.6 million teu. More yards to support an additional 0.67 million teu will be ready by December 2009.
Located in Gujarat, 140 km south west of Bhavnagar, Pipavav Port is a multipurpose, all-weather port which handles bulk, break-bulk, containerised and LPG cargo. India's first private sector port, it is promoted by APM Terminals. Meanwhile, GPPL is planning to raise
Rs 500 crore through an initial public offering of equity shares, the draft red herring prospectus for which has already been filed with Securities & Exchanges Board of India last month.
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