Government: New Facilities at Visakhapatnam Port Trust (India)
- Business & Finance
Government of India has accorded approval for implementation of the project “Upgradation of the existing facility at outer harbour and creation of new facility at inner harbor for handling iron ore” at Visakhapatnam Port.
In a statement laid down in the table of the Rajya Sabha today, Shri G.K. Vasan, the Union Minister for Shipping, said that the project will have a capacity of 23 million tonnes to cater to 2 lakhs Dead Weight Tonnage (DWT) carriers at outer harbour and upto 65000 DWT carriers at inner harbour. The estimated cost of the project is Rs. 845.41 crores and will be financed by the Concessionaire.
The upgradation, operation and maintenance of the facilities are expected to create new employment opportunities. The augmentation of capacity will also lead to increase in trade and associated benefits. The facility will mitigate dust pollution and increase operational efficiency as the existing ore handling complex will be upgraded with latest equipment.
Press Release, December 12, 2013