VPT signs MoUs worth ₹58,831 crore

The port trust enters into pacts for capacity expansion, dredging and harbour operations

The Visakhapatnam Port Trust (VPT) on Friday several memorandum of understanding (MoUs) worth ₹58,831 crore with stakeholders, ahead of the second Maritime India Summit, scheduled to be held in the city from March 2 to 4.

An MoU was signed between the VPT and the HPCL worth ₹28,264 crore for capacity expansion.

The ArcelorMittal Nippon Steel India also entered into a pact worth ₹600 crore with the VPT for enhancing the present capacity of the AMNS pelletisation plant.

The Dredging Corporation of India also signed an MoU with VPT for ₹125 crore for sand trap dredging and beach nourishment at the RK Beach for five years.

Fishing harbour

The JD Fisheries and the Government of Andhra Pradesh signed a ₹100-crore MoU with the port trust for development of a fishing harbour. The Integral also entered into a MoU worth ₹38 crore for the installation and operation of harbour mobile cranes for higher productivity.

The Andhra Pradesh Maritime Board entered into an MoU of ₹28,388 crore for multi-purpose deep water commercial port, pharma hub, LNG terminal, shipbuilding centre and others.

Others MoUs worth about ₹3,316 crore were also signed, said VPT Chairman K. Rama Mohan Rao.

He also informed that Prime Minister Narendra Modi will inaugurate the summit virtually.

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