Chowgule Steamships Signs Concession Agreement for Development of Jaigad Port
Chowgule Steamships Ltd has announced 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.
The stock was trading at Rs.37.05, up by Rs.1.75 or 4.96%. The stock hit an intraday high of Rs.37.05 and low of Rs.37.
The total traded quantity was 3546 compared to 2 week average of 79267.
Source: Equity Bulls
Posted On: 3/28/2008 3:22:24 AM
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