Gammon Infrastructure Projects, an infrastructure project development company announced that Indira Container Terminal (ICTPL), one of the joint venture SPV of the company, has accepted the Mumbai Port Trust (MbPT) proposal.

As per the proposal, the company can alternatively use of the Offshore Container Terminal for Roll-on/Roll-off operations, i.e. operations of providing facilities to the importers and exporters of automobiles and self propelled equipment.

This facility can be used for a period of one year from the date of operation with revenue share of 45% to ICTPL and 55% to MbPT.

Shares of the company declined Rs 0.45, or 4.06%, to settle at Rs 10.63. The total volume of shares traded was 112,471 at the BSE (Monday).