Shares of Gujarat Pipavav Port Ltd surged 3% on 3 December after the company announced signing a non-binding Memorandum of Understanding (MoU) with NYK India Private Limited.

Under the terms of the agreement, both firms will collaborate to improve the roll-on, roll-off (RoRo) infrastructure at Pipavav Port, with high-quality facilities geared toward allowing India’s rising car exports and automotive logistics, including electric vehicles.

RoRo infrastructure consists of specialised vessels, ports, and land-based facilities that allow wheeled goods such as cars, lorries, and other vehicles to be transported directly onto and off the ship.

“Gujarat Pipavav Port Limited (‘the Company’) has today signed a non-binding Memorandum of Understanding with NYK India Private Limited (‘NYK’) to enhance the RoRo infrastructure at Pipavav Port, with high-quality facilities focused on enabling India’s growing vehicle exports and automotive logistics, including Electric Vehicles,” the filing read. 

According to the filing, this strategic partnership with NYK focuses on developing specialised RoRo infrastructure capable of handling 5,00,000 cars per year, with an emphasis on reducing dwell time and enabling seamless vessel-rail synchronisation to manage growing rail volumes at Pipavav Port, as well as advancing sustainable and efficient logistics. 

Gujarat Pipavav Port Ltd (GPPL), formerly APM Terminals Pipavav, is a private-sector port on Gujarat’s southwest coast. It is promoted by APM Terminals and handles a wide range of cargoes, including containers, dry bulk, liquid cargo, and RoRo vessels. 

The port is well-known for its strategic location along an international trade route, as well as its excellent rail connectivity.

At 3:30 pm, the shares of Gujarat Pipava Port closed 1.29% higher at Rs 184.21 on NSE.

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