VPA Propels to Retain Third Rank Among Major Ports

Visakhapatnam Port Authority (VPA) is strategically advancing its position as the third-ranked major port. In line with this, it is implementing a multifaceted strategy to enhance cargo handling efficiency, strengthen trade connections, and reduce turnaround time. 

On March 2, VPA achieved a historic milestone, by managing a record-breaking cargo of 73.78 million tonnes, marking the highest quantity in its 90-year history since its establishment in 1933. 

With the workforce and stakeholders optimistic, the port now aims to surpass this year’s target of 80 million tonnes well before the deadline.

“Our workforce as well as all the stakeholders are in upbeat mood as together we will very easily surpass this year’s target of 80 million tonnes with more than three weeks to go,” VPA Chairperson Dr M Angamuthu, told Bizz Buzz. 

It is to be noted that the port’s total traffic was 60 million tonnes during the current fiscal as on December 31, 2023. By incorporating recommendations from the Boston Consulting Group, VPA is transforming into a landlord port, privatizing berths and facilities on a PPP model. The port is also actively engaging in monetization efforts, leasing surplus lands to corporates and facilitating private projects, such as the Inorbit Mall by Raheja Group-an ultra modern convention hall named Sagarmala. For the same VPA gave 17 acres on a 30-year on a BOT basis in Saligramapuram to Raheja Group for building the Inorbit Mall with an investment of an estimated Rs 600 crore.

VPA’s commitment to environmental sustainability involves reducing trucking by emphasizing mechanization and retrofitting old berths.

Official sources reveal that VPA currently handles 43% of cargo by road, 26% by railways, 21% through pipelines, and 10% by other means. 

Additionally, VPA, recognized as the second gateway port for traffic bound for Nepal by the Ministry of Commerce, has the potential to become a gateway for EXIM cargo from South-East Asia, aligning with India’s ‘Look East’ Policy.

During a recent traders’ meet in Hyderabad, VPA representatives detailed how businesses could fulfill their export and import requirements through the port. The positive outlook is reinforced by VPA’s designation as a key port for traffic bound for Nepal and its potential role as a gateway for South-East Asia’s EXIM cargo. Overall, VPA is optimistic about its future trajectory.

Leave a Reply

Your email address will not be published. Required fields are marked *