VPT handles 69.84 million tonnes of cargo in 2020-21

Visakhapatnam: Visakhapatnam Port Trust (VPT) handled 69.84 million tonnes of cargo during the fiscal 2020-21, the second highest annual cargo ever, Chairman of VPT K Rama Mohana Rao said.

While maintaining the third position among the major ports in the second successive year, the Chairman said the VPT has shown its resilience against the disruptions in supply chains and economic downturn due to the Covid-19 pandemic.

However, the VPT recorded a shortfall of about 3 million tonnes during 2020-21 against the record volume of 72.72 million tonnes achieved during the last fiscal, the VPT Chairman mentioned.

VPT railways handled a volume of 32.35 million tonnes during 2020-21, surpassing last year's figure of 32.13 MT.

When it comes to infrastructure development, the VPT Chairman said a grade separator from H-7 area in VPT connecting the port connectivity road at Convent junction bypassing city traffic is developed at a cost of Rs 60 crore.

This is facilitating faster cargo evacuation beside reducing congestion at the junction, he explained.

About ensuing projects, Rao said development of cruise terminal at an estimated cost of Rs 103 crore is likely to take wings in August, while the development of covered storage of 16,000 sq mts at an estimated cost of Rs 36 crore is scheduled to be awarded in June.

The port, Rao said, recorded an operating surplus of Rs 698 crore and the net surplus before tax was Rs 306 crore. In order to carry out various development works, he added that a capital expenditure of Rs 79 crore was incurred during 2020-21.

As part of the Maritime India Summit-2021, the Chairman said, Visakhapatnam Port Trust finalised 27 MoUs worth Rs 28,875 crore investments with multiple business partners.