Gujarat Pipavav Port was incorporated on August 5, 1992 to build, construct, operate and maintain the port at Pipavav, District Amreli, in the state of Gujarat, India. The company was initially promoted as a joint venture between GMB and Seaking Engineers (now SKIL Infrastructure).
In June 1998, Gujarat Maritime Board (GMB) divested its stake in favour of SKIL Infrastructure. The APMM Group acquired a 13.5% equity interest in the company in June 2001. Pursuant to the share sale and purchase agreement dated March 30, 2005, SKIL Infrastructure, Nikhil Gandhi, Montana Valves and Compressors and Grevek Investment and Finance divested their shareholding in the company in favour of APM Terminals, the Industrialization Fund for Developing Countries and IDFC Infrastructure Fund.
The company is the developer and operator of APM Terminals Pipavav, India's first private sector port, which has multi-cargo and multi-user operations. It has the exclusive right to develop and operate APM Terminals Pipavav and related facilities until September 2028 pursuant to the Concession Agreement with GMB and the Government of Gujarat (GoG). It is promoted by APM Terminals, one of the largest container terminal operators in the world with a global network of 49 terminals in 32 countries and five continents.
In the year ended December 31, 2008, APM Terminals handled 34 million TEUs and had revenues of over $3 billion. Since acquisition of management control by APM Terminals in March 2005, the company has its expanded facilities to handle up to 0.60 million TEUs of container cargo as well as approximately five million tonnes of bulk cargo per year, which varies depending on the type of cargo handled.
At present, APM Terminals owns a 57.9% equity interest in the company. APM Terminals Pipavav is one of the principal gateways on the west coast of India and is located in the Saurashtra region of the state of Gujarat. APM Terminals Pipavav is an all-weather port and is protected by two islands, which act as a natural breakwater maximizing port safety.
Business area of the company
The company is engaged in providing port handling and marine services for container cargo, bulk cargo, and LPG cargo. In addition, the company operates a CFS and also generates revenue from land-related and infrastructure activities.
Awards and Achievements
2008 September: Annual Indian Maritime Gateway Awards 2008