Cost of logistics needs to be brought down to compete in international market: Gadkari

Union Minister for Surface Transport and Shipping Nitin Gadkari has emphasized that the cost of logistics in the country, which stands high at 17-18 percent currently, needs to be brought down drastically to compete in the international market.

The minister made these remarks while inaugurating several projects and laying the foundation stones for some at the Visakhapatnam port on Thursday.

Gadkari said that realising the need to bring down the logistics cost, the government had taken up the Sagarmala Project to improve the connectivity of the ports with the hinterland and also to link the ports. These measures will have the desired effect and Visakhapatnam port would also stand to gain a great deal.

The Union Minister inaugurated the Visakhaptnam Container Terminal Private Limited's (VCTPL) container freight station built at a cost of Rs. 104 crores and then the port's 10-MW solar power project.

He inaugurated the EQ-10 and WQ-6 berths in the port and visited the WQ-7 and other berths under construction at a cost of Rs. 243 crores. He also laid the foundation stone for EQ-2 and EQ-5 berths taken up at an estimated cost of Rs. 181 crores.

Gadkari said these projects would vastly improve the functioning of the Visakhapatnam port which has a great future ahead of it on the east coast.