Chowgule Steamships - Signing of Concession Agreement for Development of Jaigad Port
Chowgule Steamships Ltd has informed BSE that on March 28, 2008 Chowgule Ports & Infrastructure Pvt Ltd (CPIPL), a Company co-promoted by Chowgule Steamships Ltd, has signed a Concession Agreement with Maharashtra Maritime Board (MMB) inter alia for development of a minor port at Jaigad.
CPIPL is a Special Purpose Vehicle (SPV) floated to undertake the port infrastructure development and Ship Repair projects at Jaigad. The port development projects would be undertaken under BOOST basis. In terms of the Concession Agreement, MMB has also an option to contribute up to 11% in the eventual capital of CPIPL.
Tags: Chowgule Steamships