Vizag Port Signs 5 MoUs at Maritime Summit

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Vizag Port Signs 5 MoUs at Maritime Summit

Vizag Port has signed five MoUs with various organisations worth Rs.20000 crores at the ongoing maritime summit 2016 at Mumbai on Friday. These MoUs were signed by Vizag Port trust (VSP), deputy chairman, T.Harnadh in the presence of VPT chairman M.T.Krishna Babu and ministry of shipping, secretary, Rajive Kumar. The first MoU was between VPT and Visakha Container Terminal Pvt Ltd., for establishment of second container terminal with an investment of Rs.633cr on PPP mode. The second MoU was for allotment of land to M/s. HPCL for expansion of existing capacity of the refinery with an investment of Rs.18412 crore.

The third MoU was between VPT and ITD cementation for reconstruction of EQ2 to EQ5 berths with an investment of Rs.178 crore. The fourth MoU was between VPT and Visakhapatnam Port Road Company (a JV between VPT & NHAI) for extension existing two lane road connectivity to NH-16 into four lane at an investment of Rs.100 crore. The fifth MoU was between VPT and Balmer & Lawrie for establishing multimodal logistic park in 100 acres of VPT land with an investment of Rs.211 crore. The summit 2016 is a huge success for the Visakhapatnam Port.

This Article was First Appeared in Deccan Chronicle.

1 Comment Leave a comment

  1. Chandra Sekhar Sharma 16/04/2016 Subscriber

    Good move by Vizag port officials, hoping for better developments.

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