Andhra Pradesh - Visakhapatnam   

Port enters into important MoUs

VISAKHAPATNAM: Visakhapatnam Port Trust entered into three important agreements, one of them for model concession agreement with the Sterlite Industries for mechanisation of coal handling facilities at a cost of Rs. 443 crores.

The agreement was signed with Sterlite Industries, Mumbai on June 10 for mechanisation of coal handling facilities and up-gradation of general cargo berth at the outer harbour to handle 2 lakh tonne DWT vessels on DBFOT basis. It was designed to handle 10.18 million tonnes a year and the project will be fully operational by 2012, according to a VPT press release on Saturday.

Logistic hub

Another MoU was with a Central Government enterprise Balmer Lowrie and Company Limited for setting up a multi-model logistic hub over an area of 65 acres of VPT land in the Exim Park, as a joint venture by forming a special purpose vehicle. The JV was meant to facilitate trade to use Visakhapatnam as a main feeder port for export-import traffic from upcountry locations.

Container storage, warehousing facility and the allied logistic port services through rail and road connectivity would be provided in the project. A detailed project report would be prepared soon.

Tariff concessions

The Steel Authority of India Limited and Essar Steels entered into MoUs with VPT under the port's trade policy. VPT declared its trade policy last year by announcing certain concessions in the tariff and to give preference in berthing of vessels, etc. to the exporters and importers who assured to give one million tonnes of traffic in a year. VPT had already singed MoUs with seven organisations and now with SAIL and Essar who have been moving a traffic of 6.5 million tonnes and 6 million tonnes respectively.

Port Chairman Ajeya Kallam, Deputy Chairman GVL Satya Kumar, Secretary D. Naresh Kumar and other officials, representatives of the companies that singed the MoU were present.

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