Mumbai: Gujarat Pipavav Port on Tuesday said its Board of Directors has approved expansion plan entailing an investment of Rs 1,097 crore.

"The Board of Directors at its meeting held on June 5, 2012, has approved the project expansion plan for Pipavav Port at a total cost of Rs 10,972 million.

This will be financed through a mix of debt, equity and internal accruals," the company said in a filing to the BSE.

The company also said an extraordinary general meeting of shareholders will be held on July 2 to "approve issue of equity shares for an aggregate amount of Rs 3,500 million (Rs 350 crore).

(Agencies)

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