In view of its business performance and cash flows, Gujarat Pipavav Port has 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.
Further, the company is expecting the cancellation of loan to not impact timely completion of the project or the company’s ability to pay dividends in future.
Gujarat Pipavav Port is the developer and operator of APM Terminals Pipavav, India's first private sector port, which has multi-cargo and multi-user operations.
