Board of Gujarat Pipavav Port decides to cancel ECB loan from IFC

To fund ongoing expansion through internal accruals

Gujarat Pipavav Port announced that in view of its business performance and cash flows, the Board of Directors decided to cancel the ECB loan from IFC and fund the ongoing expansion plan through its internal accruals. The Company had accordingly informed IFC and has now received its confirmation for cancellation of loan. The necessary formalities in that connection are being complied in due course.

The Company expects the cancellation of loan to not impact timely completion of the project or the Company's ability to pay dividends in future.

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