Andhra Pradesh to explore possibilities for developing new ports
Visakhapatnam Port Trust Chairman K Rama Mohan Rao says the State aspires to be the most sought-after investment destination by offering a plethora of opportunities to investors
Visakhapatnam: Andhra Pradesh is keen on utilising its coast to the potential for accelerating economic growth, Chairman of Visakhapatnam Port Trust K Rama Mohana Rao said.
Addressing the special session on investment opportunities in Andhra Pradesh held as a part of the virtual Maritime India Summit – 2021, the port Chairman reiterated that AP ranked No.1 in the ease of doing business among other States and aspires to be the most sought-after investment destination in India by offering a plethora of opportunities to investors.
The special session was followed by a plenary session on port-led industrialisation building port cities and maritime clusters on the day two of the event. Further, Rama Mohana Rao informed that AP is taking initiatives to unlock the capacity of coastline stretching up to 974 km by exploring possibilities of developing new ports and the summit aids in showcasing its investment opportunities.
The VPT Chairman laid emphasis on leveraging port eco-systems for industrialisation and generating new employment opportunities, investment scenario and opportunities for the Industry; opportunities in major ports in India; maritime clusters, future strategies and exchange of best practices.
He further added that transportation by sea and inland waterways continue to play an important role in economic development of the world and aid in reduction of cost and traffic congestion by other ways of transport.