Krishnapatnam Port looks at 30% growth in cargo this financial year
Krishnapatnam Port Company (KPCL) is expecting a growth of 30% in cargo handling in the current financial year, as against the previous year, Daily Shipping Times reports.
"Over the last two years, we have seen a 16% growth year-on-year. We expect to close this fiscal with a 30% growth on the back of increase in cargo handling of agri-based products and coal exports," Mr. Anil Yendluri, Chief Executive Officer, Krishnapatnam Port, said.
The company is targeting to handle around 21 million tonnes cargo by March as against 15.42 million tonnes from 438 vessels in FY12.
"Coal will have a major share in the overall cargo handling -- around 66% of the 21 million tonnes. Exports of agri commodities are expected to increase to 237,000 tonnes this fiscal from 147,000 tonnes last year," he said.
KPCL is also developing infrastructure, building road connectivity and doubling railway line around the port to boost cargo handling.
"These will be completed by Jan 2013 with a capacity to handle 50 rakes per day," he said.
Stating that Chennai and Ennore ports were now over-crowded and there was space constraint for export items, he said this would create opportunity for the Krishnapatnam port to expand.
"Traditionally, exports used to happen between India and western countries and West Asia. Now, there is a major shift towards intra-Asian markets. As the shift has come to East and not many ports are catering to markets, we see this as a major opportunity for the port to grow," Mr. Yendluri said.
The port recently started operations on the 1.2 million tonnes Twenty Foot Equivalent Units (TEU) container terminal, on which it has spent INR 5,500 crore in the first phase. It has plans to increase the capacity by another 4.8 million TEUs in the second phase, taking the total capacity of the terminal to 6 million TEUs over the next five years. The second phase will see an investment of INR 11,000 crore.
It is also constructing a roll-on roll-off berth at the south terminal that is expected handle cars by the first quarter of 2013-14.
