BL reported that Gangavaram port in Visakhapatnam, which began operations in April 2009, expects to handle between 13 million and 15 million tonnes of traffic and earn revenue of INR 350 crore this fiscal.
Mr DVS Raju chairman of Gangavaram port told Business Line set up at a cost of INR 1,800 crore, the port has at present five berths to handle bulk cargoes such as coal, iron ore, steel, fertilizers, limestone and bauxite. We have so far handled 6 million tonnes of traffic and 250 ships.”
Mr Raju said that “We have handled vessels of about 150,000 DWT. We provide the best turnaround time as compared to other ports in the country. A Panamax vessel can be turned around in our port in 50 hours and a cape size vessel in 72 hours. Most other ports in India have a turnaround time of about five days.”
Mr Raju said that “It plans to add two or three new multi-purpose berths at a cost of about INR 500 crore in the next two years. We can add another seven berths to take the total number to 14 according to the existing design. However our master plan has provisions for a total of 29 berths with a total capacity of 200 million tonnes a year.”
With a draft of 21 meters, the biggest in India, the port can handle vessels up to 300,000 DWT. The port handles steel and coal cargoes for steel makers such as Rashtriya Ispat Nigam Ltd, TATA Steel and JSW Steel. It is in talks with aluminium companies such as the Vedanta Group, which is setting up a plant in Orissa and RAK Alumina for handling their cargoes.
The Andhra Pradesh Government has 10.5% stake in the port, while Warburg Pincus holds 30%.
(Sourced from www.steelguru.com)
Monday, October 5, 2009
Gangavaram port hopes to handle 15 million tonne in first year
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