Asset monetisation to fetch Rs 300 cr to Visakhapatnam Port Authority

Further, Rama Mohana Rao said they are exploring alternative cargos such as rice, foodgrains, oil and bauxite to meet shortfall in cargo handling during Covid.

Published: 11th April 2022 07:40 AM  |   Last Updated: 11th April 2022 07:40 AM   |  A+A-

Visakhapatnam Port Trust.

Visakhapatnam Port Trust.

Express News Service

VISAKHAPATNAM: Visakhapatnam Port Authority (VPA), formerly Visakhapatnam Port Trust (VPT), is all set to get an additional revenue of Rs 300 to Rs 400 crore through asset monetisation under the National Monetisation Pipeline (NMP), which began in the just concluded financial year.

Speaking to TNIE, VPA chairman K Rama Mohana Rao on Sunday said they are going to achieve additional revenue under the NMP by monetising around 40 acres of the VPA’s land, which has been lying idle for several years. “Works of mechanisation of four berths, including WQ 7 and 8 and EQ 6, under PPP mode began in the fiscal year. The modernisation will help in increasing the cargo handling volume and fetching revenue,” Rao noted.

“The port has achieved a milestone by handling of 77.72 metric tonnes of cargo two years ago in its 89-year-old history. It was again in the last fiscal year, it handled 69.72 MT of cargo,” the VPA chairman said. Referring to competition from private ports, the chairman said competition in any sector will hep propel growth. He said infrastructure facilities such as good road and rail connectivity are being developed under the Sagaramala Project and this will give the port an edge in the competition.

Further, Rama Mohana Rao said they are exploring alternative cargos such as rice, foodgrains, oil and bauxite to meet shortfall in cargo handling during Covid.

We are hopeful of additional cargo from NMDC’s Nagarnar in Chattisgarh and Anrak Aluminium Limited’s alumina refinery near Visakhapatnam, Rao said, adding that after completion of moderinisation of HPCL refinery there will be sharp jump in the crude import. The VPA chairman said the port stood second among major ports on the east coast while it ranked fourth among all major ports as there was 100% increase in cargo movement of thermal coal, 38% in steam coal and 5% in containers in the financial year. 



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