The 30-year concession agreement between GPPL, Gujarat Maritime Board (GMB) and Gujarat government ends in CY28. Upon expiry of the agreement, all assets have to be handed over to GMB based on valuation provided by an independent third party. The company, however, has received approval from its global parent to incur US$97 million on upgrading its container facility and increasing its yard capacity to 1.6 million TeU (current capacity 1.35 mil TeU). GPPL will require written permission from GMB authorities for extension of the concession agreement before incurring the capex. The...