Shares of Gujarat Pipavav Port Ltd ended 4% higher on 29th October after the company announced that it had signed a Memorandum of Understanding (MoU) with the Gujarat Maritime Board for future investments worth Rs 17,000 crore.

Gujarat Pipavav Port, India’s first private sector port, said it has signed a non-binding MoU with the Gujarat Maritime Board for proposed investments at Pipavav Port. The plan depends on the company securing a long-term extension of its current concession. This concession expires in September 2028.

The proposed investments will focus on upgrading infrastructure and expanding capacity across containers, liquid cargo, and Ro-Ro (roll-on/roll-off) operations. The company also aims to enhance storage yards and rail sidings and to deploy advanced equipment to improve efficiency.

Other plans include deepening waterfront access and boosting multimodal connectivity through ocean, rail, and road links. Moreover, they aim to form strategic partnerships to strengthen operations in Northwest India.

Last month, Gujarat Pipavav Port also received a contract from ONGC to provide port and storage facilities for its upcoming offshore supply base at the port.

At 3:30 PM, shares of Gujarat Pipavav Port ended 4.13% higher at Rs 165.55 on NSE.

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