Pipavav Port to spend $100 million to increase capacity by 50 per cent.

Private sector Gujarat Pipavav Port is planning to invest $100 million (over Rs. 600 crore) over the next two years to ramp up its container handling capacity by over 50 per cent, according to top official of the company.

The port, now led by Maersk Group's APM Terminals, has already tied up $ 70 million in external borrowings for the same, while the rest will come from internal accruals.

'We see good demand on container traffic and are already operating at 85 per cent capacity. We will be expanding our capacity to 13 lakh TEUs (standard units) from 8.5 lakh TEUs now,' Gujarat Pipavav Port Managing Director Prakash Tulsiani said .


ET