Visakhapatnam: Visakha Container Terminal (VCT) is planning to launch another new container service in the first quarter of next calendar year. This service is expected to enhance its exports to the Western countries. The VCT go has recently introduced a new service to connect the Far East, including South East Asia to increase the exports and imports of the terminal towards East. Another service is being contemplated to further improve the trade towards the Western part of the globe.
Currently, more than 55 per cent of the total exports from the terminal go through Colombo in Sri Lanka to reach the Western countries in Europe, Africa, and Latin America. The shipments to the Middle East and South East Asian countries have direct service from here. As per a reliable source, the VCT is handling 0.36 million TEUs (twenty-tonne equivalent units) a year, which only 50 per cent of total annual cargo handling capacity at by 2020 at 0.7 million TEUs. The terminal has the vision to grow its annual capacity to 2 million TEUs by 2020. It is trying to increase its imports so that it can maintain a perfect balance in accordance with the exports.
J M Baxi Group and DP World had formed a special purpose vehicle in 2002 to manage the VCT under the aegis of Visakhapatnam Port Trust (VPT). It has a quay length of 450 metre and expanding further quay length to another 395 metre with an estimated amount of '650 crore. However, the work has not yet started due to some financial reasons. The deepest state of art container terminal is covering a hinterland with a radius of 750 km in six states including AP, Telangana, Odisha, Chhattisgarh, Maharashtra, and Jharkhand. Eight container freight stations (CFSs) that spread in 132-acre land serve the terminal. Concor and Balmer Lawrie have proposed to come up with 90 acres and 30 acres respectively near the airport.
