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| Vizag port lines up Rs 2600cr to increase handling capacity |
| BS Reporter / Chennai/ Visakhapatnam May 13, 2009, 00:07 IST |
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The Visakhapatnam port will invest Rs 2,600 crore over the next two years to increase its handling capacity to 125 million tonnes from the existing 65 million tonnes.
The port has identified eight major projects, which it would take up under public private partnership, to increase the handling capacity.
“We will need about Rs 2,600 crore to execute these projects and, therefore, are inviting private investments,” Ajay Kallam, chairman, Vizag port, said.
Of the total investment, the port will contribute Rs 1,200 crore from internal accruals and generate the remaining Rs 1,400 crore from private participants, he added.
The projects include construction of WQ-6, EQ-10 and SBM berths, mechanisation of general cargo and EQ-7 berths, development of east dock area, and revamping of ore berths. These projects, to be completed by 2012, would see the port traffic increase to about 85 million tonnes and handling capacity to 125 million tonnes a year.
Besides, the port will spend about Rs 68 crore on plan projects during 2009-10 as against Rs 31.44 crore in 2008-09. “The government is planning to shift the existing fishing harbour, which was located in the port area, to another place, and it will cost not less than Rs 600 crore,” he stated.
Owing to the recession, the port saw a decline in cargo throughput by more than 600,000 tonnes in 2008-09, as compared with the preceding year. “To attract major clients like Visakhapatnam Steel Plant and other industries, we are offering the berth reservation scheme apart from some concessions on port charges,” Kallam said.
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