Visakhapatnam Port to Get a Total of Rs 4095 cr Investment, Increases Capacity to 141.64 million tonnes
For expansion and modernisation of Visakhapatnam Port, an investment to the tune of Rs 4095 crore will be made in the next three years.
Amaravati: For expansion and modernisation of Visakhapatnam Port, an investment to the tune of Rs 4095 crore will be made in the next three years. The capacity of the port will increase from the current 126.89 million tonnes to 141.64 million tonnes by the financial year 2023.
Reacting to a question raised by Parimal Nathwani industrialist and Member of Parliament from YSRCP, the Minister of State for Shipping Mansukh Mandaviya provided the details in Rajya Sabha on Wednesday.
The Minister said that Visakhapatnam Port Trust (VPT) has developed plans with investments from the private sector in addition to the investments from internal resources in the major thrust areas of deepening of channels and berths.
"The current capacity of VPT is 126.89 million tonnes. With the completion of ongoing capacity addition projects, the capacity is projected to be 141.64 million tonnes by FY 2023," said the minister.
The Minister further revealed that there are 12 projects with total investments of Rs 3086 crore under the Design, Build, Finance, Operate & Transfer (DBFOT) model. Amongst these, the largest investment of Rs 633.11 crore, which is already underway, is for extension of the existing container terminal by adding 9.50 MMTA capacity. The other large project of Rs 581 crore is for up-gradation of the existing mechanized facility in the Outer Harbour for iron ore handling to add capacity of 16.20 MMTA. The third-largest investment of Rs 444.10 crore is for mechanization of coal handling facilities and up-gradation of GCB in OH to cater to 200,000 DWT vessels.
Another 9 projects entailing total investments of Rs 1009 crore are for connectivity and logistics. The largest investment here of Rs 372 crore is for development of Multi-Modal Logistic Hub Ph-II of Ms. CONCOR.