Gujarat Pipavav Port Ltd.

Our Company was incorporated on August 5, 1992 as  Gujarat Pipavav
 Port Limited, a public limited 
 company, under the Companies Act. We received the certificate for
 commencement of business on August 
 7, 1992. At the time of incorporation, our Company was a joint
 venture between GMB and Seaking 
 Engineers Limited, now known as SKIL Infrastructure Limited (SKIL).
 In June 1998, GMB divested its 
 stake in our Company in favour of SKIL. 
  
 Our Company, SKIL, APM Terminals Holdings Limited (APMTHL), a company
 registered under the 
 laws of Bermuda, Maersk India Private Limited (Maersk India), a
 company incorporated in India  and 
 certain other parties entered into a share subscription agreement
 dated June 29, 2001 and share purchase 
 agreement dated June 29, 2001. Pursuant to these agreements, APMTHL
 and Maersk India acquired 13.5% 
 of the then shareholding of our Company. APMTHL transferred its
 shareholding in our Company to APM 
 Terminals Mauritius Limited, one of the Promoters of our Company, in
 October 2005. 
 
 Further, pursuant to the share sale and purchase agreement (the GPPL
 SPA) dated March 30, 2005, SKIL 
 Infrastructure Limited, Nikhil Gandhi, Montana Valves and Compressors
 Limited and Grevek Investment 
 and Finance Private Limited divested their shareholding in our
 Company in favour of APM Terminals 
 Mauritius Limited, the Industrialization Fund for Developing
 Countries and IDFC Infrastructure Fund. Our 
 Company entered into further subscription agreements between June
 2001 and April 2005 with certain 
 private equity investors pursuant to which these private equity
 investors became shareholders of our 
 Company. For further details see Capital Structure on page 59 of this
 Red Herring Prospectus. Pursuant 
 the GPPL SPA, Nikhil Gandhi, SKIL Infrastructure Limited, Montana
 Valves and Compressors Limited 
 and Grevek Investment and Finance Private Limite had each provided an
 undertaking to our Company 
 dated March 30, 2005, that they shall not, directly or indirectly for
 a period of five year from March 30, 
 2005, engage in certain activies,  inter alia, including handling of
 container cargo, bulk cargo and liquid 
 cargo. 
 
 Our Company entered into a concession agreement dated September 30,
 1998 and a supplementary 
 concession agreement dated June 2, 2006 (together, the Concession
 Agreement'), with GMB and GoG to 
 develop, finance, design, construct, operate and maintain the port at
 Pipavav in accordance with the build, 
 own, operate and transfer policy as laid down by the GoG. 
 
 Debt Restructuring 
  
 Our Company had outstanding borrowings of Rs. 2,985.30 million as at
 October 1, 2003. We were referred 
 to the Corporate Debt Restructuring (CDR) Cell for restructuring  the
 debt under the Corporate Debt 
 Restructuring guidelines issued by the RBI. The CDR Empowered Group
 approved a restructuring proposal 
 at its meeting on October 30, 2003 which was communicated to our
 Company through a letter dated 
 November 29, 2003, which was subsequently amended from time to time
 (the Restructuring Package). 
 Under the Restructuring Package, our Company entered into
 Restructuring Agreements and Loan 
 Agreements with the CDR lenders, being IDBI Bank Limited, Punjab
 National Bank, Export Import Bank 
 of India and Industrial Investment Bank of India Limited.  
  
 The CDR Empowered Group had, in its meeting held on August 22, 2008,
 approved the early repayment of 
 the entire CDR Debt of our Company and our exit from the CDR Scheme. 
 Our Company has repaid the 
 CDR Debt. Our Company has entered into a loan agreement dated May 19,
 2009 with certain lenders being  
 Infrastructure Development Finance Company Limited, IDBI Bank
 Limited, Syndicate Bank, Bank of 
 India, Punjab National Bank, Export-Import Bank of India, Housing
 Development Finance Corporation 
 Limited, Union Bank of India, Infrastructure Development Finance
 Company Limited (as lenders agent) 
 and Infrastructure Development Finance Company Limited (as security
 trustee) to avail of a rupee term 
 loans to the extent of Rs. 12,000 million. As at June 30, 2010, our
 Company had outstanding debt of Rs. 
 10,749.53 million.
 
 Key Events and Milestones  
 
 Year     Month                      Key Events/ Milestones 
 1998  September              Concession Agreement entered into with
 GMB and GoG 
 2000  May                            PRCL incorporated as a joint
 venture company with Indian Railways,                                
             for gauge conversion of  rail line from Surendranagar to
 Rajula and laying of  new line from 
 Rajula to Pipavav 
 2001  June  Concession Agreement entered into between PRCL and the
 Indian Railways  
 2001  June  APMM Group, through two of its companies, acquires 13.5%
 of the shareholding of 
 our Company as strategic investment 
 2002  April  Commercial operations commenced 
 2003  May  Broad gauge rail connectivity from Surendranagar to
 Pipavav commissioned 
 2004  August          Three panamax quay cranes commissioned  
 2005  April  APM Terminals Mauritius Limited, alongwith certain
 financial investors acquire the 
 shareholding of our Company from SKIL 
 2006  March  First Port in India to receive Double Stack Container
 Train from ICD Kanakpura 
 (Jaipur) to Pipavav  
 2006  May   Phase I capital dredging completed enabling vessel
 acceptance draft of 12.5 metres 
 2006  May  Mainline container vessel services commence operation   
 2006  November  Eight rubber tyre gantry cranes commissioned  
 2007  December  Environment friendly coal yard commissioned 
 2008  January         Three post panamax quay cranes commissioned 
 2008  January  Ten eco-friendly rubber tyre gantry cranes
 commissioned   
 2009  April  Two post panamax quay cranes (PPQC) commissioned 
 2009  May  Construction of Jetty No. 4 and modification of Bulk
 Liquid Jetty completed 
 2009  May  Phase II capital dredging completed enabling vessel
 acceptance draft of 14.0 metres. 
 Dredge material used to reclaim 70.0 Hectare of land  
 2009  July  Development of 2.6 Hectares of paved container yards
 completed 
 2009  October  Railway siding no. 5, 6 and 7 commissioning with the
 addition of about 2.00 km of 
 internal railway tracks 
 2010  February  Development of 2.4 hectares of paved bulk storage
 yard completed  
 
 Awards and Achievements  
 Year  Month                      Award/Achievemen 
 2008  September  Annual Indian Maritime Gateway Awards 2008  - 
 Achievement in Environmental 
 Protection  
 2010  March  Chemtech Leadership and Excellence Award 2009-2010 -
 Fastest Growing Port in 
 India 
 
 2011
 
 -Gujarat Pipavav  signs MoU with Government of Gujarat.
 
 -The Company has entered into an Agreement with Gulf Petrochem India
 Private Limited wherein they intend to take on lease 90507 sq mtrs.
 of land at Pipavav Port to develop an initial tankage facility of
 100,000 KL.
 
 -The Company has entered into an Agreement with IMC Ltd wherein they
 intend to take on lease 100,000 sq mtrs, of land to develop the
 tankage facility at Pipavav Port.
 
 2012
 
 -Gujarat Pipavav spurts 5% post approval of expansion plans of over
 Rs 1,000 crore.
 
 2013
 -Gujarat Pipavav Port Ltd. organizes health check-up camp for women
 at Village Rampara-2, Amreli
 
 2014
 -Gujarat Pipavav Port sets up tankage facility at Pipavav Port
 
 2016
 
 -Gujarat Star Awards 2016 – Emerging port of the year for RoRo
 business 
 
 2017
 -APM Terminals Pipavav sets new port productivity benchmark for
 customers
 -APM Terminals Pipavav welcomes one of the largest RoRo [Roll in Roll
 out] carrier
 - APM Terminals Pipavav handles 100000th Auto Unit
 -Gujarat Star Awards 2017 – Best Port of the year for RoRo
 operations
 -Gujarat Star Awards 2017 – runner up for The Port of the Year –
 Health, Safety and Environment 
 
 2018
 
 -APM Terminals Pipavav is now AEO LO (Authorised Economic Operator
 for Logistic & Terminal Operator)
 -APM Terminals Pipavav inagurates Rampara Check dam under its CSR
 Project 'PRAVAH'
 --Appreciation certificate from Government of Gujarat for Mukhya
 Mantri Apprenticeship Yojana Apprentice Program
 
 2019
 
 -APM Terminals Pipavav wins Gujarat State CSR Award 2019
 
 
 2020
 
 -APM Terminals Pipavav Certified as a Great place to work
 -APM Terminals Pipava's board approves Rs. 700 crore expansion plan
 -Award from New Delhi-based Integrated Health & Wellbeing Council for
 societal development and community support initiatives under the COVID
 Relief Project
 
 2021
 
 -APM Terminals Pipavav launches Rail-out by bill of lading service
 -APM Terminals Pipavaav is awarded ESG india Leadership Award 2021
 -ESG India Leadership Award 2021 for the Leadership in Community
 Support and Development 
 
 2022
 
 -APM Terminals Pipavav has secured a new weekly service NMG which
 connects India to the Gulf region..
 -APM Terminals Pipavav relocates to a new office in Ahmedabad.
 -APM Terminals Pipavav is ranked as the most efficient Indian Port as
 per CPPI ranking 2021.
 -APM Terminals Pipavav, one of Western India's leading ports, has
 achieved a productivity milestone for bulk limestone discharge.
 
 2023
 
 - APM Terminals Pipavav strengthens footprint in North India with new
 office in Ludhiana.
 -APM Terminals Pipavav creates a record by loading 1000th LPG Rake,
 reinforcing commitment to sustainable operations.
 -APM Terminals Pipavav expands connectivity with new China India
 Express service.
 -APM Terminals Pipavav ranked most efficient Indian port for second
 consecutive year.
 -APM Terminals Pipavav invests US$ 90 million in new liquid berth.