India: IFC to Invest in Pipavav Port Expansion

The International Finance Corporation (IFC) is considering a loan which would fund over half of Gujarat Pipavav Port Ltd’s (GPPL) new expansion project.

According to the Business Standard, the IFC is considering a US$170m loan to part fund the proposed US$303m expansion project.

This development project will include building a new liquid cargo berth, expansion of the present container berth and bulk berths. There will also be dredging works to accommodate larger vessels. There will also be a new internal road, associated gateways, parking for trucks and new rail sidings to enable handling the extra volumes.

[mappress]

Dredging Today Staff, August 1, 2012; Image: pipavav