Realestate News

Visakhapatnam Port Trust receives green nod for container terminal expansion

Visakhapatnam: In a major boost to Visakhapatnam Port Trust (VPT), the environmental committee of ministry of environment and forests has approved the expansion of the container terminal project.
According to senior VPT officials, the formal order of the proposed Rs 633.11 crore expansion project planned by Visakha Container Terminal Private Limited (VCTPL) will be issued to VPT in the next couple of weeks. The proposed project includes enhancing the container terminal capacity from 0.4 million TEUs (Twenty-foot Equivalent Units) to 0.94 million TEUs.
Once the environmental clearance is issued, VPT has to hand over land for the project to VCTPL and also issue the award of concession following which VCTPL will take up the expansion project. During April to February 2015-16, VPT handled around 4.6 million tonnes of container cargo as against 3.9 million tonnes in the corresponding period of 2014-15.

At the same time, in another development, the VPT board has approved the major port’s plans to modernize two oil refinery berths – OR1 and 2 – in a phased manner over the next two to three years at a meeting held on Wednesday.

Meanwhile, sources said OR 1 and 2 berths will be modernized at a cost of Rs 200 crore over a period of two to three years to handle panamax vessels in the coming days. “We have taken approval from the board for going ahead with the project. IIT Chennai will make the estimates for the project and the modernization will be executed in phases without disturbing the existing operations. At the end of the modernization, we’ll be able to handle three panamax vessels. We are handling vessels with displacement of about 25,000 tonnes now and once the modernization is completed, the berths will be able to handle 80,000 tonnes vessels as the draft will be increased from 9.5 metres to around 15 metres,” said a VPT official. Modernizing the oil refinery berths would increase the handling capacity from the existing 2.8 million tonnes capacity to around 5 million tonnes, sources said.

Also, sources said that during the meeting, proposal for road connectivity was also discussed. “The detailed project reports for the road connectivity projects of the port are being prepared. Once it is ready, we will know the estimates and the structure of cost sharing for the project will have to be worked out. It is expected to take around two to three months for the DPR to be completed,” the official added.
Source By:







           Be the first to know about Free Service Offers

VRE Logo