Vizag port to invest Rs 3000cr for capacity expansion

The Visakhapatnam port will invest about Rs 3,000 crore over the next 30 months to double its handling capacity. The port currently has a handling capacity of 61 million tonne.

Stating this, MS Rao, deputy chairman of Vizag port, said the capacity expansion work would be completed by March 2012.

Of the total investment, about 50 per cent would come through private participation, Rs 200 crore as loan from the Japan Bank for International Cooperation and the remaining Rs 1,300 crore would be generated from internal accruals, he said.

As a part of the expansion plan, the port is taking up works including deepening of entrance channel to facilitate berthing of Panamax vessels, outer harbour expansion, providing mechanical handling facility at the general cargo berth, upgradation of iron ore handling facility and development of single buoy mooring berth by Hindustan Petroleum Corporation.

The port has set a target to handle 65 million tonne cargo during the current year. It has so far handled 33 million tonne.