Vizag Port sees Rs 705 cr from cargo handling

Visakhapatnam Port is targeting revenues of Rs 705 crore through cargo handling operations during the current financial year as against Rs 660 crore in 2009-10.

The port last fiscal handled over 65 million tonne cargo and is looking at increasing this to 70 million tonne this year.

Apart from earning higher revenues, the port is taking steps to reduce its expenses. This year, it expects its cargo handling and other miscellanies expenditure to be around Rs 420 crore as against Rs 464 crore during the last fiscal. The port is mainly seeing a drop in management and general administrative expenses, said port officials.