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Vizag Port signs MoUs worth ₹2,718 crore at Global Maritime India Summit in Mumbai

Updated - October 19, 2023 07:10 pm IST

Published - October 19, 2023 07:09 pm IST - Visakhapatnam

Most of the agreements are related to port-led industrialisation, development, modernisation, community development and training programmes

Visakhapatnam Port Authority (VPA) has signed 16 MoUs with several companies for programmes and projects worth ₹2,718 crore during the three-day Global Maritime India Summit-2023 that concluded in Mumbai on October 19 (Thursday).

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Most of the agreements were related to port-led industrialisation, development and modernisation, community development and training programmes.

The MoU involving the highest investment among the lot (₹985 crore) is related to the enhancement of the present capacity of the pellet plant to 11 million metric tons per year (MMTPY) in the existing leased land of 156.97 acres. The port signed the MoU with Gujarat-based AMNS.

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The other major project is related to the mechanisation of WQ-7/8 berths with Bothra Group at a cost of ₹290 crore. The port signed another MoU with Sagarmala Development Company Limited for the construction of an internal flyover at Visakhapatnam Port at an investment of ₹227 crore.

JM Baxi Group will undertake mechanisation of EQ-7 berth at an investment of ₹202 crore. Land in Salagramapuram will be allotted to Sardar Sri Infra JV Venkanna on a long-term lease for non-port-related activities at an investment of ₹200 crore. Modernisation of the Visakhapatnam Port Fishing Harbour will be undertaken at an investment of ₹152 crore and an MoU in this regard was signed with Shrushti Contech Private Limited. Land in the western sector area will be allotted to Sarat Chatterjee & Co. VSP Pvt. Ltd. on a long-term lease for the development of an integrated warehousing complex at a cost of ₹119 crore. Similarly, land on the north side of the harbour park will be allotted to Hindustan Enterprises on a long-term lease for non-port-related activities at a cost of ₹110 crore.

Apart from this, MoUs were also signed for several zero-investment projects during the summit. They are training programmes for the staff by the Centre of Excellence in Maritime and Shipbuilding, and promotion of capacity building, research and development with Indian Maritime University.

Andhra Pradesh Industries and IT Minister Gudivada Amarnath along with Industries Commissioner Pravin Kumar attended the event on behalf of the State government while VPA Chairman M. Angamuthu joined them on behalf of the Central government.

“It is a great opportunity for the State and Vizag Port. These MoUs will help boost the development of Visakhapatnam on par with the developed coastal cities. These projects will create direct and indirect employment opportunities for the local talents,” said Mr. Amarnath.

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