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Vizag port revenues up Rs 60 crore in FY10

VDS Rama Raju  |  Chennai/ Visakhapatnam 

Revenue earnings of Visakhapatnam port increased by Rs 60 crore in the 2009-10 financial year. The port earned Rs 660 crore by way of cargo-handling in FY10, as against Rs 599.70 crore in 2008-09, port sources to Business Standard.

Of the total revenues, the port received Rs 309 crore through cargo-handling and storage charges, Rs 206 crore via port and dock charges, Rs 104 crore from railway operations and Rs 40 crore through rentals on port lands.

The port handled about 65 million tonne of cargo in 2009-10 (63.9 million tonne) and spent Rs 468 crore on cargo-handling, railway-working and other general administration (Rs 349.8 crore).

From April 1 this year, the port has increased the levy rates by 250 to 350 per cent on cargo-handling charges, and hence expects to earn more revenues on cargo-handling. The port also has investments worth about Rs 900 crore in the form of bonds, debentures and fixed deposits in different financial institutions.

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First Published: Wed, June 23 2010. 00:11 IST