APM Terminals Pipavav bags Chemtech Foundation award for being the fastest growing port in India
APM Terminals Pipavav, which is operated by Gujarat Pipavav Port Limited, has received the Chemtech Leadership and Excellence 2009-10 award for being the fastest growing port in India.
Tweet-- APM Terminals Pipavav, which is operated by Gujarat Pipavav Port Limited, has received the Chemtech Leadership and Excellence 2009-10 award for being the fastest growing port in India. Prakash Tulsiani, Managing Director, Gujarat Pipavav Port Limited, received the award from the Governor of Maharashtra, His Excellency, Shri Kateekal Sankaranarayanan at an award ceremony. Chemtech Foundation is one of India's leading industry associations that creates interactive platforms for strategic alliances across six industries in India.
"This is a special achievement for us, as 2009 was a difficult year for the maritime industry across the world," said Tulsiani. "We completed several upgradation projects for the port by May 2009, and moved into a marketing phase. We set up offices in different locations to promote the port and its strengths to our customers. I owe this success to all our employees who have put in a lot of effort to make this happen so quickly."
APM Terminals Pipavav, part of the AP Moller-Maersk group, is a gateway port in Gujarat offering integrated port services to north-west India. Located 153 nautical miles from the ports in and around Mumbai, it is strategically positioned to serve North West India comprising the states of Gujarat, Rajasthan, Punjab and Delhi NCR, a rich hinterland of a large variety of cargo.
During the year 2009, several projects were completed at APM Terminals Pipavav. These include: new Post Panamax quay cranes; dredging to increase draft to 14.5 m and enhancement of railway infrastructure. The port has also installed reefer plugs, for refrigerated cargo. As of December 2009, the port's facilities include: a state-of-the-art, environment friendly coal yard, which won the "Annual Indian Maritime Gateway Awards 2008"; berth length of 1075 metres - total 4 berths ready for operations; 5 Post Panamax Cranes and 3 Panamax cranes with the post Panamax cranes having an outreach of 18 containers across a ship; and twin lift capability 18, fuel efficient, Rubber Tyred Gantry Cranes, 10 of which are environment friendly,; Covered Warehouses and Open stack yards; Weighbridges, Railway sidings; Port Users Complex; New Customs House and employee port colony under construction. In addition, APM Terminals Pipavav has a right to develop approximately 1,561 acres of land, of which the port has developed approximately 485 acres.
Notes to Editor
Gujarat Pipavav Port Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed a Draft Red Herring Prospectus ("DRHP") with the Securities & Exchange Board of India ("SEBI"). The DRHP is available on the website of SEBI at www.sebi.gov.in ; on the websites of the BRLMs at www.sski.co.in and www.kotak.com ; and that of the Co-BRLM at www.idbicapital.com.
This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP filed with SEBI including the section titled "Risk Factors".
The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in the United States and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States to "qualified institutional buyers", as defined in Rule 144A under the Securities Act in transactions exempt from the registration requirements of the Securities Act, and (ii) outside the United States in offshore transactions in compliance with Regulation S under the Securities Act.