Thursday, December 7, 2023

PM inaugurates Visakhapatnam Port projects

Must read

Boost to regional development and maritime prosperity

PNS | Visakhapatnam

Prime Minister Narendra Modi virtually inaugurated crucial projects under the Visakhapatnam Port Authority (VPA) here on Tuesday, marking a significant milestone in the development of port infrastructure that is expected to stimulate the regional economy and prosperity. The occasion was marked by the launch of these projects as part of the Global Maritime India Summit 2023, organised in Mumbai.

The mechanisation of the Visakhapatnam Port area, a critical step towards enhancing its capabilities, is being undertaken through a Public-Private Partnership (PPP) approach. Visakhapatnam Port has taken up the task of mechanizing three key berths, namely EQ7, WQ7, 8, and WQ6.

To facilitate these transformative efforts, a substantial sum of 655 crore rupees has been allocated by the port authorities. Prime Minister Narendra Modi inaugurated and laid the foundation stone for these projects, underscoring their strategic importance. One of the noteworthy highlights of this momentous occasion was the dedication of the expanded Visakha Container Terminal Phase-2 project to the nation. The expansion project aimed at significantly increasing the terminal’s handling capacity. With the addition of new berths and state-of-the-art equipment, the Visakha Container Terminal can now accommodate a larger volume of containers and vessels, promoting trade growth. This project’s expansion has been carried out under the Design-Build-Finance-Operate-Transfer (DBFOT) scheme at an estimated cost of approximately Rs 633 crore, signifying a significant investment in the port’s growth and modernization.

Senior officials of the VPA said that the inauguration signifies the government’s commitment to bolstering India’s maritime infrastructure and fostering economic prosperity, not only in Visakhapatnam but also across the nation. These projects are poised to increase the region’s competitiveness and act as a catalyst for trade, industry, and development, aligning with the government’s vision of a self-reliant and economically vibrant India. Prominent port authorities, the dedicated team from Visakha Container Terminal Pvt. Ltd. (VCTPL), and well-noted shipping companies including JM Bakshi and Bothra played an active role in the programme.

- Advertisement -spot_img

More articles

- Advertisement -spot_img

Latest article