Gujarat Pipavav Port Ltd Share Price

History of Gujarat Pipavav Port Ltd

Gujarat Pipavav Port Limited, India's first private sector port, operates an all-weather port located on the Southwest coast of Gujarat at a distance of 140 kms from Bhavnagar and around 152 nautical miles North-west of Mumbai. The port lies on a strategic international maritime trade route which connects India with the Far East on one side and Middle East, Africa, Europe and the US on the other. The Port's Container handling capacity is 1.35 Million TEUs. The Bulk Cargo capacity is approximately 4 to 5 Million MT per annum depending on cargo mix and Liquid Cargo capacity is approximately 2 Million MT per annum. The RoRo vessels for car exports are handled on the Container berth. APM Terminals is the Lead Promoter and holds 44.01% of the total shareholding of the Company. APM Terminals ope ...rates 65 terminals globally and is one of the world's most comprehensive port network operator. The Company is engaged in Port Development and Operations at Pipavav Port, in Saurashtra, Gujarat. The Port handles Containers, Dry Bulk, Liquid, and RORO vessels and provide port services such as marine services, material handling and storage operations. The Company has a shareholding of 38.8% in Pipavav Railway Corporation Limited (PRCL). Gujarat Pipavav Port Limited was incorporated on August 5, 1992 as a public limited company. The Company was established to build, construct, operate and maintain the port at Pipavav, District Amreli, in Gujarat, India. At the time of incorporation, Company was a joint venture between GMB and Seaking Engineers Limited (now known as SKIL Infrastructure Limited). In June 1998, GMB divested their stake in the company in facour of SKIL. In November 1996, the company commissioned the first jetty and commenced cargo-handling operations at APM Terminals Pipavav. In September 30, 1998, the company entered into a Concession Agreement with GMB and the GoG, pursuant to which, granted the right to develop and operate APM Terminals Pipavav for a period of 30 years. In April 1998, the company commenced container-handling activities and obtained the exclusive right to develop and operate APM Terminals Pipavav and related facilities under the Concession Agreement on September 30, 1998. In June 2001, APMM Group acquired a 13.5% equity interest in the company. In April 2002, the company commenced comprehensive commercial port operations. In May 2003, the company commissioned Broad gauge rail connectivity from Surendranagar to Pipavav. In November 2006, the company commissioned eight rubber tyre gantry cranes and in December 2007, they commissioned environment friendly coal yard. In January 2008, the company commissioned three post panamax quay cranes and in the same year, the company also commissioned ten eco-friendly rubber tyre gantry cranes. In April 2009, the company commissioned two post panamax quay cranes (PPQC) and in July 2009, the company completed development of 2.6 Hectares of paved container yards. In October 2009, the company commissioned Railway siding no. 5, 6 and 7 with the addition of about 2.00 km of internal railway tracks. In February 2010, the company completed the development of 2.4 hectares of paved bulk storage yard. In March 2010, the company received the Chemtech Leadership and Excellence Award 2009-2010 - Fastest Growing Port in India.In August 2010, APM Terminals Pipavav launched a successful IPO to raise Rs 500 crores from the market in order to fund improvements in infrastructure and financial restructuring. On 23 November 2010, Aegis Logistics, a leader in Oil, Gas and Chemical Logistics, entered into a major deal with APM Terminals Pipavav to avail on sub-lease close to 100 acres of land for building a global oil and petrochemicals storage complex. This was announced at a joint press conference hosted by both companies. Aegis will invest up to Rs 400 crores ($90m) in building a 600,000 KL oil terminal complex in Port Pipavav. On 24 January 2011, Gujarat Pipavav Port announced that it has signed a Memorandum of Understanding or MoU with the Government of Gujarat to expand its port facilities at Pipavav. The MoU involves an investment of Rs 1700 crore over a period of time. Port Pipavav also signed an MoU with Swan Energy Ltd for setting up the LNG terminal involving a total investment of Rs 3500 crore. Prior to this MoU, Swan Energy had earlier signed an MoU with Port Pipavav for setting up the terminals at a project cost of Rs 1500 crore. With this additional input, Swan Energy's investments at the port will total Rs 5000 crore, over a period of time. Port Pipavav will provide essential services to support. Gujarat Pipavav Port (APM Terminals Pipavav) reported first full year of net profit in 2011. For the year ended 31 December 2011, the company registered a net profit of Rs 57.10 crore. Port Pipavav set a new national record on 17 July 2012 by handling 14 container trains in a day. This is by far the largest number of container trains handled in a day by any Container Terminal in India. On 21 September 2012, Gujarat Pipavav Port (APM Terminals Pipavav) announced commencement of wheat cargo shipment for the Government of India. The first consignment of wheat for the year 2012 on behalf of the Government of India (GOI) was exported from Port of Pipavav on 20 September 2012. The port has tied up with the Food Corporation of India (FCI) to handle part of its wheat exports. On 19 July 2013, Gujarat Pipavav Port (APM Terminals Pipavav) announced that it has upgraded its infrastructure with the ability to carry Double Stack High Cube Containers. This new offering from APM Terminals Pipavav will help in reducing transportation cost; enhance operational capacity for the port, Inland Container Depots and Rail operators. The new offering and the cascading effect will provide better hinterland connectivity for customers based in North and North West India. On 16 November 2015, APM Terminals Pipavav (Gujarat Pipavav Port Ltd) announced the commencement of a new weekly double stack rail service to the industrial center in Faridabad in north India's Haryana State, near the Indian Capital City of New Delhi. The dedicated double stack operations, which can efficiently carry two containers placed one on top of another in specially designed rail cars, will be operated in association with Gateway Rail and NYK India. On 9 June 2016, APM Terminals Pipavav (Gujarat Pipavav Port Ltd) announced that it has successfully completed its capacity expansion project on time and within budget. APM Terminals Pipavav has raised its annual container throughput handling capacity from 850,000 TEUs to 1.35 million TEUs. As part of the expansion plan, APM Terminals invested around Rs. 400 crore. The investment included buying new STS cranes, strengthening the existing berth, dredging, and the improvement of the container yard and internal roads at the port. This investment will increase efficiency and productivity in the port operations. In FY'21, the Company commissioned additional warehouse of 10,000 sq. mtrs for storage of Fertiliser in Dry Bulk business. In RoRo the automobile companies commenced the movement of cars by rail from December 2023 and the port is handling about 25 rakes per month in FY 2024. The Western Dedicated Freight Corridor has been commissioned in FY24. The Company has completed development of first phase of open stackyard covering the area of 42,000 sq. mtrs. and made it functional in 2024. Company has commissioned an additional rail siding for handling car rakes in 2025. The LPG tank farm operator located at Pipavav Port has commissioned the cryogenic tanks.