Shares of Gujarat Pipavav Port climbed as much as 4.6 percent intraday Tuesday after the company entered into an arrangement with NYK Auto Logistics (India).
As per the agreement, NYK has been sub-leased land for developing a dedicated common user integrated RO-RO yard at Pipavav Port, said the company in its filing.
The RO-RO yard with annual designed capacity for handling 250,000 vehicles will be ready for operations by February 2015, it added.
The company will provide all the port and related facilities to NYK for ensuring smooth and seamless flow of automobile cargo upon commencement of the RO-RO facility.Port Pipavav is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the AP Moller-Maersk Group.
With a 43.01 percent stake, APM Terminals is the largest shareholder in Port Pipavav. Other key shareholders in Port Pipavav are New York Life International India Fund (Mauritius) LLC; IDFC Infrastructure Fund; The Infrastructure Fund of India; IL&FS Trust Company; Jacob Ballas Capital India; Unit Trust of India; Industrial Development Bank of India; and India Infrastructure Fund.
As per the agreement, NYK has been sub-leased land for developing a dedicated common user integrated RO-RO yard at Pipavav Port, said the company in its filing.
The RO-RO yard with annual designed capacity for handling 250,000 vehicles will be ready for operations by February 2015, it added.
The company will provide all the port and related facilities to NYK for ensuring smooth and seamless flow of automobile cargo upon commencement of the RO-RO facility.Port Pipavav is managed and operated by APM Terminals, the ports and terminals company of the maritime giant, the AP Moller-Maersk Group.
With a 43.01 percent stake, APM Terminals is the largest shareholder in Port Pipavav. Other key shareholders in Port Pipavav are New York Life International India Fund (Mauritius) LLC; IDFC Infrastructure Fund; The Infrastructure Fund of India; IL&FS Trust Company; Jacob Ballas Capital India; Unit Trust of India; Industrial Development Bank of India; and India Infrastructure Fund.
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