Gandhinagar: The state Ports and Transport Department has issued a memorandum granting the Gujarat government’s in-principle approval for the creation of a special purpose vehicle (SPV) to undertake the development, operation and maintenance of over 40 ports owned and operated by the Gujarat Maritime Board (GMB).

According to the memorandum dated December 31, 2025, the proposed SPV will have an equity structure of 51 per cent held by the GMB and 49 per cent by the state government.

The SPV will serve as the implementing agency and function under the overall supervision and control of the GMB. While ownership of port assets and revenues will continue to remain with the maritime board, the SPV will be authorised to collect administrative fees and undertake marine-related and value-added services, subject to GMB approval.

It is learnt that several ports directly operated by the GMB are currently facing maintenance and infrastructure challenges, prompting the state government to opt for the SPV model.

The Gujarat Maritime Board oversees 48 non-major ports, organised into 10 major clusters, including Magdalla, Bharuch (Dahej), Bhavnagar, Jafrabad, Veraval, Porbandar, Okha, Jamnagar (Bedi–Sikka), Navlakhi and Mandvi. Prominent individual ports include Alang (ship recycling), Mundra, Pipavav, Hazira and Tuna, several of which are privately operated under the GMB’s regulatory framework and cater to cargo handling, LNG operations and shipbuilding activities. DeshGujarat