Gujarat Pipavav Port announced that the company's board of directors approved the revised expansion plan for enhancement of container handling capacity from ~ 0.85 million TEUs to ~ 1.35 million TEUs at an estimated cost of about Rs 4,600 million.

The capex to be implemented in phased manner shall mainly consist, purchase of 3 post panamax cranes with spreaders to replace the existing old cranes; strengthen existing berth 3; Dredging at berth pockets; phased development of container yard.

The purchase of 4 rubber tyre gantry cranes with spreaders; internal roads & gate complex; electrical and other related works

The dry bulk and liquid cargo capacity shall continue to be at ~ 4-5 million tons and ~2 million tons respectively.

Shares of the company gained Rs 0.35, or 0.41%, to settle at Rs 86.50. The total volume of shares traded was 177,237 at the BSE (Thursday).