VPA inks pact worth Rs 39,216 cr at IMW-2025

Visakhapatnam: Visakhapatnam Port Authority (VPA) signed multiple MoUs totalling Rs 39,216 crore in investments, showcasing India’s maritime ambitions to delegates from over 100 countries, at the India Maritime Week 2025 (IMW) being held in Mumbai till October 31.

VPA exchanged an MoU with the Andhra Pradesh government for a major port-cum-shipbuilding and repair cluster at Dugarajapatnam (Rs 29,662 crore). The project will boost employment, self-reliance under Make in India, and modern infrastructure for maritime growth. HD Korean Shipbuilders discussed technical features of this mega cluster with VPA and state officials.

VPA also signed MoU with MECON India with Rs 3,000 crore for stack yards and railway sidings to optimise multimodal logistics; with NBCC with Rs 500 crore, self-financed for monetising under-utilised Harbour Park land; with HUDCO (Rs 487.38 crore) for mechanising cargo berths with advanced, eco-friendly technologies; with Rail Vikas Nigam Ltd. (Rs 535 crore) for internal flyovers.

VPA unveiled a comprehensive land monetisation programme across zones to attract investment. Aligned with National Logistics Policy, Maritime India Vision 2030, and Net Zero by 2047, these initiatives promote sustainability, clean fuels, blue economy, and green shipping. IMW-2025 reinforced India’s vision to become a global maritime hub through innovation, infrastructure, and international partnerships, driving regional growth and sustainable ocean development.