APM Terminals Pipavav inks pacts with Gujarat Maritime Board, Welspun Group

Private port operator APM Terminals Pipavav has inked two initial pacts with the Gujarat Maritime Board (GMB) and Welspun Group for port infra development and green hydrogen ecosystem at the Vibrant Gujarat Global Summit.

Under its collaboration with GMB, the company plans to invest ₹3,320 crore in setting up of liquid and container berths and a yard, among others.

“APM Terminals Pipavav is committed to the community, environment and to the region. By signing path breaking MOUs predominantly in the capital investment and green hydrogen space at the Vibrant Gujarat Summit, we bring together all the parties required to make this a success and reiterate our commitment to the state of Gujarat," the port operator's managing director Girish Aggarwal said.

As part of the pact with GMB, the two partners will facilitate necessary permissions for the construction of liquid berth, container berth and a yard, container handling equipment, and marine infrastructure development at Pipavav Port, estimated at the cost of ₹3,320 crore.

This would create jobs and economic growth through infrastructure development, the statement said.

Regarding its partnership with Welspun, APM Terminals Pipavav said the two sides will explore opportunities for the development of green hydrogen facilities on land provided by the port.

Green hydrogen is produced from water and renewable energy. Among others, it can be a replacement for fossil fuels and also be a sustainable industrial raw material.

(With inputs from agencies)