Vizag Port, Sagarmala Corp to develop FTWZ near airport
The port will develop levelling, drainage, water and power supply, internal roads and other basic amenities like boundary wall as well as rail connectivity
image for illustrative purpose
Visakhapatnam: VISAKHAPATNAM Port Trust is awaiting clearance from the Government of India for its joint venture with the Sagarmala Development Corporation Limited (SDCL) to launch work on the Free Trade and Warehousing Zone.
The ambitious proposal mooted to give a boost to port-led development will come up near the Visakhapatnam International Airport. An extent of 103 acres has been earmarked by VPT in the Export-Import (EXIM) Park. The park gives plots to various industries which provide good business to the port.
The zone will have separate areas like processing, non-processing and infrastructure. The port will develop levelling, drainage, water and power supply, internal roads and other basic amenities like boundary wall as well as rail connectivity. It is expected to give hassle- free clearances for export and import with provision for value addition, packing, labelling, knitting and bunding. It will have cold chains to store perishable items. Air cargo transportation of products made at Jawaharlal Nehru Pharma City, Hetero Drugs, Aurobindo Pharma, Visakhapatnam Special Ecnomic Zone and Brandix India Apparel City are expected to get a fillip.
The proposed FTWZ is to be funded under Sagarmala and a Special Purpose Vehicle (SPV) will be set up to develop basic infrastructure like roads, electricity, rail and road connectivity.
