Gujarat Pipavav Port Ltd (GPPL) has signalled that its recently signed ₹17,000-crore Memorandum of Understanding (MoU) with the Gujarat Maritime Board (GMB) is not a binding contract, and that the proposed investments will only be executed once the port secures an extension of its operating concession.
“The MoU with GMB is not a binding contract with GMB. This is subject to concession extension. This expenditure will happen post the concession extension,” Girish Aggarwal, managing director of the company said about the agreement signed with Gujarat government in October 2025. The 30-year concession agreement of the port is set to expire on September 29, 2028.
GPPL said the proposed ₹17000 crore investment pipeline will be spread across a period of 30 years and spans a wide range of marine and landside assets aimed at scaling capacity across multiple cargo categories. “So the investments are around infrastructure development in the port of Pipavav. This would be around new liquid new jetties, liquid bulk container, RoRo, land site development etcetera, etcetera. So it encompasses a variety of infrastructure developments within the port,” Aggarwal told investors recently.
However, the company stressed that details of the plan are still evolving. “It is a little premature to talk about details of the ₹17,000 crore expansion. As I said, the ₹17,000 crore MOU is subject to concession extension. It is based on a master plan that will span the overall concession period and we would decide how we expand, you know as we move forward, I think it is a little bit premature to get into details,” he added.
Concession agreement
GPPL indicated that discussions with the GMB and Gujarat government regarding the concession agreement were advancing positively, with no concerns flagged so far. “In terms of concession extension again, we are moving in the right direction. Of course, the final decision, we will only hear from GMB and the Government of Gujarat. Things are progressing in the right direction and there are no red flags that I would like to call out,” Aggarwal remarked.
Separately, the company’s ongoing liquid berth expansion is set to drive significant capital expenditure over the next year. GPPL reaffirmed that the ₹700-crore liquid jetty remains on track for commissioning in November–December 2026. “So we had announced a ₹700 crore expansion for the liquid jetty which will get commissioned in November-December 2026. A majority of the ₹700 crore will be spent between January-June 2026,” the official added.
