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Business EconomyPosted at: Oct 6 2020 7:41PM


VPT handles 32.77 million tons in current financial year despite Covid-19

Visakhapatnam, Oct 6 (UNI) : Visakhapatnam Port Trust (VPT) handled 32.77 million tons in the first half of the current financial year compared to 34.75 million tonnes handled in previous year despite the disturbances caused by the Covid-19, said VPT Chairman K Rama Mohan Rao here on Tuesday.
Addressing a press conference here, Mr Rao said the decline in traffic volume was 1.98 million tons but the percentage of decline in respect of VPT is less than the shortfall registered by all major ports put together.
The Chairman said the port is ready to compete with the private sectors that are coming on the eastern board by completing its time-bound expansion projects, implementing ease of business and the latest technology on par with the international ports.
The port handled 72.72 million tons during 2019-2020 financial year as against 65.30 million tons handled in 2018-2019 registering 11 percent growth, he said there was significant growth in export of iron ore due to demand in China, finished steel due to demand from China, South Korea and Japan, fertilisers and container exports growth due to increase in agriculture products.
Listing out the ongoing development projects that would enable the port to compete with the private ports, the chairman said the present container terminal capacity is being increased from 5.4 lakh TEUs to 10 lakh TEUs at a cost of Rs 633 crore. The project would be completed by March next year.
Similarly, additional oil handling facilities being created at a cost of Rs 168 crore which would be completed by March 2022,the chairman said.
A cruise terminal is also being constructed and the tenders would be called after getting approval from the Ministry of Forests, Environment and Climate Change, he added.
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