Private sector port Gujarat Pipavav Port (GPPL) plans to utilise 1,000 acres of undeveloped land for further expansion of its operations, a senior company official said.
So far the port has developed around 485 acres of the 1,561 acres available to it.
"We are planning to utilise 1,000 acres of land for additional berthing and cargo handling facilities both at the waterfront and in the back-up areas," GPPL's Managing Director Prakash Tulsiani told PTI here.
"In order to utilise the available waterfront and land area, the port also intends to develop and sub-lease land to third parties, including those interested in establishing facilities that utilise the port, its infrastructure and related services," Tulsiani said, adding the port also plans to continue to attract investments from port-based industries for developing the port into a total service provider.
In addition, GPPL intends to optimally utilise current infrastructure. In case of bulk cargo, it plans to pursue long-term strategic arrangements for the use of the port.
"We believe that strategic relationships through long-term contractual agreements will enhance business prospects by bringing stable and increased cargo traffic in the future," Tulsiani said.
In the container cargo business, the port intends to further develop relationships with existing customers and attract new major shipping lines. The growth in cargo handling operations will also contribute to an increase in rail traffic handled by Pipavav Railways Corporation, he said.
Similarly, in order to increase operating efficiency and competitiveness, GPPL has outsourced certain port handling operations to other service providers, he said.
The private port developer and operator's Rs 500 crore initial public offer (IPO) is likely to hit the capital market within a month.
