Vizag port ties up with AP govt. for a major project

In a significant initiative, the Visakhapatnam Port Authority (VPA) has signed MoUs for various projects worth Rs. 39,216 crore at the ongoing Indian Maritime Week in Mumbai.

According to a press note issued by the VPA, the proposed projects will help generate jobs.

As a part of the pact it signed with the Andhra Pradesh government, a major port-cum-shipbuilding and ship repair cluster will be set up at Dugarajapatnam in Tirupati district with an investment commitment of ₹29,662 crore. The project will generate jobs on a big scale and strengthen India’s self-reliance under the Make in India framework and deliver modern infrastructure to accelerate the country’s maritime growth.

The other MoU it signed is with MECON India for developing modern stackyards and railway sidings with Rs. 3,000 crore.

It also partnered with NBCC for monetisation and integrated development of under-utilised land in Harbour Park.

The VPA has also inked pacts with HUDCO and Rail Vikas Nigam Limited for different projects worth over Rs. 900 crore.

Also read: Enterprising Bharat 3.0 to Inspire Youth and Rural Entrepreneurship

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This article is written by Senior Journalist Lakkoju Nagesh Babu