GPPL jumps after signing Rs 17,000 crore MoU with Gujarat Maritime Board

Gujarat Pipavav Port (GPPL) rose 3.33% to Rs 164.25 after it has signed a non-binding memorandum of understanding (MoU) with the Gujarat Maritime Board for future investments of Rs 17,000 crore at Pipavav Port.

The proposed investment plan is contingent upon the long-term extension of the companys current concession, which is valid until September 2028.

The capital infusion aims to strengthen port infrastructure and enhance capacity across containers, liquid cargo, and RoRo operations, while expanding storage and rail siding capacity and deploying specialized equipment.

GPPL also plans to develop a deeper waterfront and implement best-in-class multimodal transit solutions, connecting ocean, rail, and road networks to the northwest region of India. Strategic partnerships will be explored to further bolster operational efficiency and cargo handling capabilities.

Gujarat Pipavav Port is India's first private sector port, located on the southwestcoast of Gujarat near Bhavnagar. The port is strategically placed on an international maritime trade route that connects India with the US, Europe, Africa, and the Middle East on one side and the Far East on the other side.

Gujarat Pipavav Port's consolidated net profit slipped 4.87% to Rs 104.32 crore, while revenue from operations rose 1.81% to Rs 250.44 crore in Q1 FY26 over Q1 FY25.

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