Gujarat Pipavav Port has entered into an agreement with IMC to take on lease 100,000 sq meters, of land for developing the tankage facility at Pipavav Port.
Recently, CRISIL revised the credit rating for company’s fund and non fund based borrowings to ’A+’ with stable outlook.
Gujarat Pipavav Port is the developer and operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. Promoter APM Terminals Mauritius currently holds 57.9% stake in the company, pre issue. Among institutions, IDBI Trusteeship Services and IDBI Bank are the major shareholders with 10.2% and 8.9% stake.
