"Vizag Port to invest Rs 4,500 crore for capacity expansion " ...the expansion envisages setting up 3-4 new berths besides modernising the existing berths Visakhapatnam : Visakhapatnam Port plans to spend Rs 4,500 crore to expand cargo handling capacity from the existing 65 million tonne (mtpa) to 110 mtpa by 2015-16. The expansion envisages setting up 3-4 new berths besides modernising the existing berths towards fully mechanised, said Satya Kumar, Chairman in-Charge, Visakhapatnam Port. The port currently has 24 berths operational. Kumar said a major chunk of the Rs 4,500 crore investment, i e Rs 4,000 crore would be through private partnership and the remaining will be from internal accruals. Besides, it is setting up a satellite port at Bhimili for which feasibility report is under preparation. In addition to these, it would acquire a 89 per cent stake in the proposed major port at Duggarajupatnam in Nellore, and the remaining 11 per cent stake goes to the state government. Initially, this port will set up with four berths with an outlay of Rs 4,000 crore. Indian Railway arm, Rites is preparing detailed feasibility report and State Government will take the remaining 11 per cent stake in it, he said.
Posted on: Fri, 13 Sep 2013 06:29:09 +0000
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