Vizag port award INR 820 crore container expansion project to VCTPL.

Busienss Standard reported that the Visakhapatnam port has finally agreed to award the INR 820 crore container berth expansion project to Visakha Container Terminal Private Limited.

It is a design, build, finance, operate and transfer public private partnership project.

Promoted by Dubai Ports World and United Liner Agencies of India, VCTPL, is currently operating the container terminal at Visakhapatnam port.

The expansion project would help the port handle 1.05 million container boxes from the existing 0.5 million. The project works include construction of a berth, erection of higher capacity cranes, handling equipment and reclamation of more than 100 acres, and is expected to be completed in the next three to 4 years.

The port is expected to handle more than 270,000 containers this fiscal, up from 80,000 containers it handled in 2008-09.

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