GMB, GSFC form SPV for ports and logistics parks

Gandhinagar: The government of Gujarat’s Gujarat Maritime Board ( GMB ) and Gujarat State Fertiliser Corporation (GSFC) established a new joint venture special purpose vehicle (SPV) for the development of ports and logistics facilities in state.

Mukesh Kumar, the chief executive officer(CEO) of GMB said, “GMB and GSFC have established Gujarat Port and Logistics Company Limited.

The objective of this JVC is to create value by using existing marine assets and infrastructure after augmentation for a specified period. After augmentation, marine assets and infrastructure shall be used for captive consumption by GSFC and for logistics support and trading of solid and liquid chemicals by the JVC and development of multimodal logistics parks in Ahmedabad (North Gujarat), Surat (South Gujarat), Kosamba, Valsad, Rajkot (Saurashtra) and other appropriate locations as identified from time to time.”

“The JV may also develop other projects and undertake activities as its board decides from time to time. GMB and GSFC entered an agreement for setting up an SPV for the logistics business,” he added.