Visakhapatnam Port Authority (VPA) has set two new records in May at its container terminal. Visakha Container Terminal Private Limited, the PPP/BOT operator of Port of Vizag, handled a record 61,468 TEU throughput in May 2023. This is the highest TEU record in a month, beating the previous peak of 56,578 TEU in March 2023. VCTPL also achieved another record by handling 49 vessels in the same month of May. This is the highest number of ships handled in a month, surpassing the 42 ships handled in April 2023.
The container terminal, which is 390 meters long, 42 meters wide and 16 meters deep, has been praised by the VPA chairman Dr. M Angamuthu for achieving the new record. He recommended workers to work as a team to set new records. The PPP/BOT model has been identified by the Indian government as important for financing large infrastructure projects and delivering public services. This is good news for the port industry in India and highlights the benefits of the PPP model in promoting growth and modernisation in the ports sector.
Tags: Visakhapatnam Port Trust