Visakhapatnam

Gangavaram port on growth path

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As part of its strategy to emerge as a generation next port, Gangavaram Port Limited has commissioned four new berths to increase its handling capacity to 64 million tonne.

The port developed in PPP mode by D.V.S. Raju-led consortium has invested around Rs.1,300 crore on the expansion project.

The expansion includes facilities to handle multi-purpose cargo and Panamax vessels with a 2,00,000 DWT, an additional fully mechanised coal terminal, additional rail sidings, ancillary civil work and stock yards.

When contacted, a spokesperson for GPL told The Hindu that the port had no plans to go for IPO. “These are only rumours,” she said. Gangavaram Port handled 19.5 MT of cargo during 2015-16. This was almost equivalent to the previous year’s traffic. The port handled 15.18 million tonne during 2013-14 and 20.74 million tonne during 2014-15.

Except a few ports like Kandla and Paradip, almost all the ports in the country were hit hard due to prolonged slump in economy, fall in iron ore exports and steel industry crisis due to flooding of market by cheap steel produced by China and Commonwealth of Independent States.

Presently, GPL has nine berths with up to 19.5 meter water depths. It has handled more than 112 million tonne till March, 2016.

Visakhapatnam Port Trust, which was also hit by sluggishness in economy, has big plans to revive its lost glory.

It is taking several initiatives to increase its capacity from 85 million tonne to 125 million tonne in a couple of years. VPT Chairman M.T. Krishna Babu and Deputy Chairman P.L. Haranadh were instrumental in signing five MoUs at Maritime India Summit envisaging an investment of Rs.20,000 crore in next few years. The projects include construction of a futuristic container terminal in PPP mode by J.M. Baxi Group, allotment of land for HPCL expansion, widening of Port Connectivity Road and extending it to NH-16 and developing a multimodal logistics park in 100 acres in partnership with Balmer & Lawrie.

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Printable version | Nov 22, 2019 4:59:27 AM | https://www.thehindu.com/news/cities/Visakhapatnam/gangavaram-port-on-growth-path/article8575247.ece

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