APM Terminals Pipavav (Gujarat Pipavav Port) has announced the approval of Rs 700 crore in coherence to the expansion plan of the company. The stated investment will be utilised for upgrading the port?s existing facility to handle bigger ships and eventually expand the container capacity to 1.6 million TEUs.

The supply chain and the inland logistics is expected to significantly improve the reliability and reduce transit time going forward with the implementation of Western Dedicated Freight Corridor (DFC). This will improve overall cargo volume for imports and exports. About 40 per cent of the total investments in the entire 1,535 km of DFC is likely to be in Gujarat, which has around 37 per cent of area covered of complete stretch.

Expressing delight, Jakob Friis Sorenson, Managing Director, APM Terminals Pipavav said, ?With this investment, we aim to strengthen our network and continue to provide best in-class services to all our stakeholders. However, we are awaiting the confirmation of concession extension from Gujarat Maritime Board (GMB) to execute the expansion plan. The container yard capacity will be expanded once the cargo growth is visible post commissioning of DFC. We expect the world economy and business to follow an expanded ?U? curve and normalcy in business to be restored by the second quarter of 2021.?