Visakhapatnam Port run by the Essar group undertakes a massive modernization and expansion project to a tune of 830 Crores INR and the out take looks good.
The pride of Port City Visakhpatanam, Essar Group run Vizag Port is looking at a stupendous venture for modernization and expansion and the investment is said to be 830 Crores INR. The expansion and upgradation seeks to undertake replacement of the old ship loader with a brand new one. This will increase Visakhapatnam Port iron ore handling capacity from 12.5 million tonnes to 23 metric tonnes annually. The Visakhapatnam Port will thus shut down operations from December 13th to the 19th and not just the ship loader, a new reclaimer and a conveyor system are also to be commissioned.
Vizag Port in modern times runs neck to neck in competition and this expansion comes at a good time. It will reduce the turn around time as well the freight costs for companies significantly. A whooping 1,20,000 tonnes of cargo per day will be handled with capacity expansion. A fitting answer to competitors. All this is being undertaken without loosing business time for companies and extensive planning. It remains that congratulations and good wishes accompany the huge move for the pride of our city.