Hyderabad, April 20 (IANS) Krishnapatnam Port Company Ltd (KPCL), which runs India’s largest all-weather and deep water port on the east coast, handled 45 million metric tonne (MMT) of cargo in 2017-18, achieving a 25 per cent growth over the previous fiscal’s 36.10 MMT, an official said.
KPCL Director and CEO Anil Yenduluri told reporters here on Friday that the growth in cargo handling was impressive considering the fact that average growth rate of cargo clocked by major Indian ports was 4.79 per cent.
There was a record 88 per cent rise in the number of containers Krishnapatnam port handled at 4,81,408 TEUs during last fiscal as against 2,55,439 TEUs in the previous fiscal. Coal, iron ore and granite dominated the cargo portfolio handled.
The number of vessels visiting the port rose by 22 per cent to 1,290 in 2017-18 as against 1,061 vessels registered during 2016-17.
The port, located in Nellore district of Andhra Pradesh, is now aspiring to achieve an impressive 52 MMT in bulk and 2 Lakh TEU in containers this fiscal.
According to Yenduluri, favorable government policies and handling of new cargo such as sand, steel products and agri-commodities added to the growth of shipments.
“We are entering the 10th year of operations and KPCL is now the second largest port in India and is poised to become eastern gate way of India,” he said.
The company is on the verge of completing its second phase of expansion which takes it capacity from current 80 million tonnes to over 100 million tonnes. The company had invested Rs 8,000 crore in the first and second phases so far.
“After the completion of the second phase, we will finalise plans for the third phase including fund raising needs,” Yenduluri said.
The port has planned a total investment of $3 billion of which $1.23 billion has already been invested for development till date with second phase of expansion underway.
KPCT recently set up a dedicated coastal cargo berth to handle the growing coastal cargo traffic and reducing the time loss.