VPA to Discuss Dugarajapatnam Port SPV at Board Meeting
The SPV has been formed on a 50:50 basis with the AP maritime board.
Visakhapatnam:The Visakhapatnam Port Authority will discuss in detail the special purpose vehicle formed to develop an integrated complex that includes a port, ship building and ship repair in Dugarajapatnam in Tirupati district.
The discussions would be held at its board meeting on February 6 . The SPV has been formed on a 50:50 basis with the AP maritime board.
Deputy chairperson of the VPA, Roshini Aparanji, told the media on Monday that the integrated complex would have a capacity to build eight cape-sized vessels annually.
Finance minister Nirmala Sitharaman in her budget presentation on Sunday placed renewed emphasis on shipping, shipbuilding, container manufacturing and waterways with an allocation of `5,164 crore -- 48 per cent more than the previous year’s allocation.
The plan features a 2,000 acre site comprising 1,000 acres for shipyards, with the remaining land set apart for ancillary industries, internal infrastructure and social facilities. The project includes modern stack yards, railway sidings, and internal flyovers to boost operational efficiency.
The total project cost is significant, with initial, long-term development plans requiring nearly `29,662 crore. It is likely to provide direct employment to over 5,000 people and indirect jobs to 30,000.The development is part of the central government's shipbuilding development scheme (SbDS).
Among other things, the deputy chairperson said, some cargo handling would be shifted to Mulapeta Port in Srikakulam district where three berths have been completed and the fourth one nearing completion.
“Shifting would enable us to maintain cleanliness around the port in the coming years,’’ she stated.
Regarding cargo handling at VPA, she said they are likely to achieve a 90 million tonnes target by the end of the current financial year. As on date 74 million tonnes of cargo handling has been achieved.
