G'varam Port to set up container terminal; to be operational by 2023

Visakhapatnam: In what is expected to pose stiff competition to Visakhapatnam Port Authority (VPA), Gangavaram Port, which is acquired by Adani Ports' Special Economic Zone (APSEZ) has announced setting up of its first container terminal.

The much-anticipated container terminal is expected to provide impetus to the growth of cargo business in the hinterland of Andhra Pradesh and surrounding industrial hubs, Gangavaram Port said on Monday putting at rest speculation that it will foray into container operations.

The terminal will also increase efficiency, reduce turnaround time and logistics costs, and make the supply chain seamless for the industry, Gangavaram Port Limited (GPL), the special purpose vehicle which runs the port, said in a statement. The terminal will be operational in FY2023.

VPA owns a container terminal, which is developed by BOT operator JM Baxi & Co. The project run under SPV Visakha Container Terminal Private Limited (VCTPL) recently commissioned its expansion at an estimated cost of Rs 633 crore.

The commissioning state of the art terminal at Gangavaram Port is expected to redefine marine infrastructure in the country. The port aims to offer the best productivity and benefits to the customers. With a state-of-the-art terminal the port will be able to offer tangible benefits to the industries in the hinterland which includes metal & minerals-ferro alloy, finished/processed steel, aluminium as well as seafood, agri, chemical, pharma and refractory amongst others.

The container terminal project is well on track and 3 STS cranes and 9 E-RTGs have already arrived at the port, the statement said adding with the arrival of the equipment the project is moving at an accelerated speed and is likely to be fully commissioned by Q2 FY23. The commissioning of the container terminal at Gangavaram Port is a strategic step and will aid the company's plans to increase its diversified product portfolio and improve share of cargo handled across its operations.

A spokesperson for Gangavaram Port said "our new container terminal at Gangavaram Port will help us diversify into container cargo business as part of our strategic roadmap to achieve better cargo handling capacities in India. The container terminal will also help us achieve an optimal cargo mix to steadily increase the share of container cargo business in our portfolio." "The upcoming terminal at Gangavaram Port shall also offer integrated logistics solutions to trade & industries far across the country," he stated.