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Steel Exchange India plans development of Cargo Terminal and MMLP in Visakhapatnam

Steel Exchange India plans development of Cargo Terminal and MMLP in Visakhapatnam

Team Yo! VizagNews/City Updates3 months ago

Steel Exchange India Limited (SEIL) has announced plans to explore the development of a General Cargo Terminal (GCT) and a Multi-Modal Logistics Park (MMLP) in Visakhapatnam, Andhra Pradesh. The initiative is part of a newly signed non-binding agreement with Vizag Profiles Logistics Pvt Ltd (VPL) and Hind Terminals Pvt Ltd (HTPL).The collaboration is geared towards enhancing logistics infrastructure in the region by creating scalable and efficient cargo handling systems that integrate coastal and inland transportation. Through this venture, the three entities aim to reduce transit times, streamline freight operations, and establish a robust network for container and general cargo movement.

According to a statement from SEIL, the proposed GCT will be linked to SEIL’s upcoming rail siding, allowing for smooth rail-based transportation of steel and other goods. The alliance also envisions leveraging domestic barge services for coastal shipping, thereby creating a comprehensive multimodal logistics ecosystem in and around Vizag.

“This partnership represents a strategic step toward diversifying our business while addressing the growing logistics demands in the region,” said Suresh Kumar Bandi, Joint Managing Director of Steel Exchange India Limited, who also added that Visakhapatnam is emerging as a key logistics corridor on the eastern coast. “By combining our infrastructure with the operational strengths of VPL and HTPL, we hope to deliver cost-effective, end-to-end logistics solutions,” he expained.

While the agreement is currently exploratory in nature, it sets the groundwork for joint feasibility studies, pilot initiatives, and potential commercial partnerships in the near future.

Steel Exchange India Ltd, part of the Vizag Profiles Group, is one of South India’s leading steel manufacturers and the name behind the popular ‘SIMHADRI TMT’ brand. Established in 1999, the company operates a fully integrated steel plant in Vizianagaram district, with facilities for sponge iron, billets, rolling, and captive power generation.

As it continues to align with the national ‘Atmanirbhar Bharat’ mission, SEIL is also venturing into the specialty steel segment under the Production Linked Incentive (PLI) scheme, aiming to substitute imports with high-value domestic production.

For FY25, the company reported a total income of Rs 1,163.37 crore, an EBITDA of Rs 143.60 crore, and a net profit of Rs 25.93 crore—figures that reflect both resilience and ambition as SEIL expands its footprint in India’s industrial landscape.

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