The Hindu Business Line : APM to double Pipavav box terminal capacity

The Hague-based APM Terminals, part of the APMoller-Maersk Group - which formally took over Gujarat Pipavav Port Ltd - has proposed to double its container terminal capacity to one million TEUs by 2008 and develop a new container berth of 350 m.

APM Terminals took full management control of the 800-acre port in May last year, soon after which it signed an MoU with the Gujarat Government for investing Rs 1,000 crore over the next three years and Rs 4,336 crore more up to 2014.

The total shareholding of the APM Group in the venture currently stands at 56.31 per cent, with the rest held by domestic and overseas institutional investors.

Traffic volume

Container traffic handled at Pipavav grew from 62,087 TEUs to 81,723 TEUs last fiscal, and is projected to increase to 2.53 lakh TEUs next year. The port hopes to surpass the one-million-TEU mark by 2010. Its bulk cargo handling is expected to increase to 5.56 million tonnes by 2010 from 2.03 mt last year.

With a 725-m-long quayside, Pipavav port has a five-lakh-TEU capacity container terminal, apart from a container freight station. It was the first greenfield port project to attract FDI in Gujarat.

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