Major port to come up in AP's Nellore district

VISAKHAPATNAM: Visakhapatnam Port Trust (VPT) will establish a major port in Nellore district of Andhra Pradesh with an investment of Rs 9,500 crore, a top official said today.

The proposed port will come up at Duggarajupatnam, where four berths would be constructed. The site would be developed as a major port in East Coast, VPT In-charge Chairman G V L Satya Kumar said here.

He was addressing the media in connection with a two- day East Coast Maritime Business Summit to be held in the city from September 19.

A total amount of Rs 9,500 crore would be spent within a span of 30 years on the project with an initial investment of Rs 4,500 crore, he said.

A feasibility report is being prepared by Rail India Technical and Economic Service (RITES) and a special purpose vehicle will be floated for setting up the port, Kumar said.

"The East Coast is an ideal location for investment as it offers a short and convenient route for traders who are keen to accelerate the shipment of goods to China," he said.

Kumar said a total of 934 million tonnes of traffic was handled by ports in the country during 2012-13. Of this, the 12 major ports contributed 545 million tonnes and the rest was accounted by private and minor ports.