Vizag Port Inks MoUs Valued at ₹2,718 Crore during Global Maritime India Summit in Mumbai

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The Visakhapatnam Port Authority (VPA) has signed 16 Memorandums of Understanding (MoUs) with various companies for projects worth ₹2,718 crore during the Global Maritime India Summit-2023. The agreements primarily focus on port-led industrialization, development, modernization, community development, and training programs. The largest investment, amounting to ₹985 crore, is for enhancing the capacity of the pellet plant to 11 million metric tons per year, in collaboration with AMNS. Another major project involves the mechanization of WQ-7/8 berths with Bothra Group at a cost of ₹290 crore. The port has also signed an MoU with Sagarmala Development Company Limited for the construction of an internal flyover at Visakhapatnam Port at an investment of ₹227 crore.

Other projects include the mechanization of EQ-7 berth by JM Baxi Group, the allocation of land for non-port-related activities to Sardar Sri Infra JV Venkanna, the modernization of the Visakhapatnam Port Fishing Harbour by Shrushti Contech Private Limited, and the development of an integrated warehousing complex by Sarat Chatterjee & Co. VSP Pvt. Ltd. Additionally, training programs for staff, capacity building, and research and development initiatives with the Indian Maritime University were also agreed upon. The MoUs aim to boost the development of Visakhapatnam and create employment opportunities for local talents.

Andhra Pradesh Industries and IT Minister Gudivada Amarnath, along with Industries Commissioner Pravin Kumar, attended the event on behalf of the State government. VPA Chairman M. Angamuthu represented the Central government. Amarnath expressed his optimism about the MoUs, stating that they will contribute to the development of Visakhapatnam and create employment opportunities for the local population.

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