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Vizag port beats competition, weathers economy slowdown
Visakhapatnam Port Trust, the premier port in the east coast, showed a substantial improvement in cargo-handling during the 2016-17 fiscal at seven per cent growth compared to last financial year.
Visakhapatnam: Visakhapatnam Port Trust, the premier port in the east coast, showed a substantial improvement in cargo-handling during the 2016-17 fiscal at seven per cent growth compared to last financial year.
The Port handled record cargo of 61.02 million tonnes during the 2016-17 fiscal as compared to 57.03 million tonnes in 2015-16 and registered an incremental traffic of 4 million during 2016-17 fiscal and also showcasing that it is on the growth trajectory after a lapse of five years despite severe competition from neighbouring Gangavaram port and volatile economic conditions.
Highlights:
- The famed port handles record cargo of 61.02 million tonnes during the 2016-17 fiscal against 57.03 million tonnes in 2015-16
- M T Krishna Babu chairman VPT says they could achieve the target with innovative marketing plans
Addressing a press conference, here on Saturday, chairman of VPT, MT Krishna Babu said that VPT has achieved the target despite the slowdown and demonetisation hitting the port sector. He mentioned that despite the decrease in imports of coal and fertilizers due to increase the prices in international market, the port could achieve the target due to vigorous marketing efforts.
Nearly, 2 million tonnes was realised by attracting new customers to utilise the port during the 2016-17 fiscal. Also, VPT achieved an operating surplus of Rs 396 crore in 2016-17 as against Rs 355 crore in 2015-16, he added.
The chairman said that 11.42 million tonnes of iron ore and pellets was handled in 2016-17 as against 5.98 million tonnes in the previous year at a growth of 91 per cent. Similarly, 6.43 million tonnes of container cargo was handled surpassing the previous record of 5.15 million tonnes in 2015-16 achieving a growth of 25 per cent.
He said that a record number of 3.67 lakh TEUs were handled surpassing the previous record of 2.93 lakh TEUs achieving a growth of 25 per cent. The major port also achieved record handling of bauxite (1.01 million tonnes in 2016-17 as against 0.48 million tonnes), import petroleum coke (2.10 million tonnes in 2016-17 as against 1.67 million tonnes) and gypsum (10.17 lakh tonnes as against 7.60 lakh tonnes). Over 4.17 lakh tonnes of wheat was imported from Russia, Ukraine and Australia at the port.
Speaking on the development projects, Krishna Babu said that National Highways Authority of India received approvals for laying dedicated corridor from Sheelanagar to connect to Anakapalle-Anandapuram at a cost of around Rs 400 crore.
``If all goes as per plan, the corridor will be completed within three years,’’ he said.
Nearly, 80 per cent of cargo from VPT moves on the RV (Raipur-Vizianagaram) railway line and the doubling and electrification of this line is likely to completed by 2018. He said project has been taken as a priority in the inter-ministerial meeting headed by ministers concerned.
