Visakhapatnam Port bags 4th rank in cargo handling, records significant growth

According to the Chairman of the Visakhapatnam Port Authority (VPA), K Rama Mohana Rao, the port has achieved an impressive ranking in terms of cargo handling volume. The VPA has secured the fourth rank among major ports in the country and the second rank on the east coast. During the 2022-23 financial year, the port handled 73.73 million tonnes of cargo- an increase from the previous year’s 69.03 million tonnes.

Rama Mohana Rao also announced that the VPA has generated additional revenue of Rs 125 crore by leasing 17 acres of inoperative land in Saligramapuram for 30 years. The move has also generated 10,000 job opportunities. The VPA has also taken several measures to reduce pollution caused by cargo storage, as a part of which Rs 120 crores was invested in shed construction.

In addition, the VPA has adopted the landlord model to attract private investments. Three PPP projects with an investment of Rs 655 crore have been awarded, and two more are just a few steps away from confirmation. Through EQ1 and 6 berths, the port has generated an additional income of Rs 119 crore, while the mechanisation of three berths has generated an income of Rs 288 crore.

Rama Mohana Rao highlighted the advantages of allocating works in PPP mode, which include the importation of technology, increased income, and reduced costs for the company. However, the Visakhapatnam Port Authority has also faced challenges in cargo handling due to various reasons. The thermal coal handling has declined by 57% due to the non-renewal of MoU by TANGEDCO, and there has been a 0.2% decline in iron ore pellets handling due to the drop in prices in the international market.

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