Krishnapatnam Port
Shipping/Ports
Krishnapatnam Port begins operations;
to invest $2 billion
Krishnapatnam Port, whose container terminal began operations today, will be investing $2 billion in the next six years to ramp up capacities in the second phase, a top port official said here.
Sept. 27, MUMBAI: The Andhra Pradesh-based Krishnapatnam Port, whose container terminal began operations today, will be investing $2 billion in the next six years to ramp up capacities in the second phase, a top port official said here.
"We have already invested $1 billion and have started operations at the container terminal. We will invest another $2 billion in the next five to six years to increase capacity in both the bulk as well as container segments," port's chief executive Anil Yendluri told reporters here today.
He, however, declined to offer as to how the port, promoted by the Hyderabad-based CVR Group having interests in engineering, will fund such huge expansion plan. Private equity fund 3i has an investment in the port, he said.
"We have already invested $1 billion and have started operations at the container terminal. We will invest another $2 billion in the next five to six years to increase capacity in both the bulk as well as container segments," port's chief executive Anil Yendluri told reporters here today.
He, however, declined to offer as to how the port, promoted by the Hyderabad-based CVR Group having interests in engineering, will fund such huge expansion plan. Private equity fund 3i has an investment in the port, he said.
Yendluri said the port, which began bulk terminal operations in 2008, received its first scheduled call by a container ship today. He also said the Bengal Tiger Line has already committed a fortnightly feeder service.
The company has invested up to Rs 800 crore for the two-berth container terminal having a capacity to handle 1.2 million TEUs at present, which will be increased to 6 million TEUs post-expansion in the second phase.
The all-weather port, having a depth of 18 meters at present with plans to take it to 21 meters, is divided into three parts, each devoted to bulk 'dirty cargo' like coal, clean energy cargo and containers, he said.
When asked about the likely competition it will face from the Ramayapatnam Port, which is being planned as the second big port by Andhra Pradesh after the Krishnapatnam Port, Yendluri said the market opportunity is large enough to make both the ports feasible
The company has invested up to Rs 800 crore for the two-berth container terminal having a capacity to handle 1.2 million TEUs at present, which will be increased to 6 million TEUs post-expansion in the second phase.
The all-weather port, having a depth of 18 meters at present with plans to take it to 21 meters, is divided into three parts, each devoted to bulk 'dirty cargo' like coal, clean energy cargo and containers, he said.
When asked about the likely competition it will face from the Ramayapatnam Port, which is being planned as the second big port by Andhra Pradesh after the Krishnapatnam Port, Yendluri said the market opportunity is large enough to make both the ports feasible
Comments
Post a Comment