Share |
Back to Vizag Business Watch


VPT keen on part financing fishing harbour project:

The facility at Mulakuddu to cost Rs. 440 crore

A standalone fishing harbour proposed at Mulakuddu near Bheemunipatnam will cost Rs. 440 crore.

Visakhapatnam Port Trust, which originally wanted to construct a satellite port as well as a fishing harbour at Mulakuddu, where it has huge land, including waterfront area, has dropped the proposal for the time being to construct a port due to low projection of cargo. The original plan was to relocate the existing fishing harbour, and use the space for its expansion.

Though we will not go ahead with the satellite port immediately, we are interested to partly fund the fishing harbour project so as to involve the Centre and the State governments to sanction major part of it,” VPT Chairman M.T. Krishna Babu told The Hindu.

Aecom, a reputed consultant that was engaged by the port for conducting techno-economic feasibility report, in its final report said that it would not attract much cargo to make it financially viable. It found that just 8 million tonne could be expected in the initial years.

At present, Visakhapatnam Port, which is on expansion mode, has a capacity to handle 80 million tonne, but due to economy slowdown and competition in the neighbourhood, is able to get 60 to 65 million tonne cargo per annum.

As per various schemes, the Central government sanctions up to 75 per cent for construction of a Greenfield fishing harbour. The State government, on its part, can also release funds under various heads.

Panel for maintenance

A committee headed by Joint Director, Fisheries, with representatives from boat and trawler owners, will be formed to ensure better upkeep of the fishing harbour in the city.

VPT Chairman, District Collector N. Yuvaraj, and Municipal Commissioner M.V. Satyanarayana have agreed to involve the stakeholders to improve hygiene and sanitation at the fishing harbour.

Union Minister of State for Commerce and Industry Nirmala Sitharaman visited the area last week.

VPT will sponsor a Sulabh complex immediately. For improving roads and auction centres, funds will be sought from the National Fisheries Development Board.


Read More On: vpt | fishingharbour | project | bheemunipatnam |
Post Your Comments

By posting your comments you agree to abide to the terms and conditions of www.vizagcityonline.com