Foundation stone laid for Vadhavan port project
NewsThe foundation stone for the US$ 9.14 billion Vadhavan port project was laid today, aiming to be India’s largest port and among the top 10 globally.
Gujarat Pipavav Port Ltd (GPPL) on India’s west coast has raised Rs3.5B (USS63.3M) through a Qualified Institutions Placement (QIP) and a preferential issue to its promoter, APM Terminals Mauritius Ltd. The latter’s shareholding in GPPL is maintained at 43.01% post the QIP and the preferential issuance.
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