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Visakhapatnam Port Trust (VPT) to invest INR 4,500 cr on modernization

Visakhapatnam Port Trust (VPT) has planned an investment of INR 4,500 crore over the next four years as part of its modernization plan, which includes increasing container trade, clean cargo, setting up multi-modal parks and free trade zones.

The port, which currently handles about 60 million tonnes (MT) of cargo volume, hopes to handle over 125 MT by 2020.

MT Krishna Babu, chairman, VPT, said, “As part of our long-term modernisation plan, we plan to invest about INR 4,500 crore by 2020. We have already invested over R2,500 crore for increasing container trade, maintaining 50% clean cargo, multi-modal parks and free trade zones in the expansion plan. We expect to complete modernisation, mechanisation and berth improvement by 2020.”

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