Gammon Infrastructure Projects has announced that it has approved the transaction to sell or transfer up to 35% of the total paid-up capital of Vizag Seaport Private Limited (VSPL) at price not less than market value. 

Vizag Seaport Private Limited is a multi-commodity terminal in the port of Visakhapatnam that handles the import and export of Coking Coal, Iron Ore, Gypsum, Manganese Ore, Coke, Steam Coal, and Other Bulk Cargo.

The Board will be seeking shareholders' approval in an Extraordinary General meeting, which will be held on June 30, 2021.