To expand its cargo handling capacity, Visakhapatnam port plans to spend Rs 4,500 crore. The port's existing capacity is 65 million tonne (mtpa) and it plans to enhance it to 110 mtpa by 2015-16. The expansion plan includes setting up of 3-4 new berths besides modernising the existing berths towards fully mechanised ones.
Currently the port is operating 24 berths. Satya Kumar, Chairman in-charge, Visakhapatnam port said a major chunk of the Rs 4,500 crore investment, i e Rs 4,000 crore would be through private partnership and the remaining will be from internal accruals.
The port is also setting up a satellite port at Bhimili for which feasibility report is being prepared. In addition to these, it would acquire a 89 per cent stake in the proposed major port at Duggarajupatnam in Nellore, and the remaining 11 per cent stake goes to the state government.