HomeIndustry NewsVPA inks series of MoUs worth over Rs 3k crs

VPA inks series of MoUs worth over Rs 3k crs

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Key Infra projects to get a Boost

Major port Visakhapatnam Port authority inked a range of MoUs at the recently concluded Global
maritime India summit held in Mumbai from the 17th to 19th October 2023.
Over 16 MoUs were signed worth over Rs 3000 crores. Some of the key MoUs signed included the Rs
500 crores with NHAI which aims to significantly ramp up road connectivity from Sheelanagar to
Convent junction with a 10 lane road.
This has been a long pending demand from the local trade and industry as cargo and commercial
vehicles have been plying side by side which many have flagged as a hazard.
The expansion of road once complete will have 6 dedicated lanes for public transport and 4 dedicated
lanes for port vehicles.
Another key MoU was inked with Trion properties Pvt Ltd for building the much-hyped Inorbit mall.
Similarly VPA inked MoU with Indian Navy for a dedicated outer harbour for Indian Navy vessels.
This was done to develop outer-outer harbour for Indian Navy. Some of the other big ticket MoUs
included AMNS’s Rs 985 crores pellet plant which as per VPA AMNS will enhance the capacity of
the pellet plant to 11.0MMTPY in the existing leased land of 156.97 acres.
Another big ticket investment is that of Bothra group’s Rs 290 crore investment for mechanization of
WQ-7/8 berths. Bothra group will also be investing 119 crores for the development of an integrated
warehousing complex.
Similarly the JM baxi group shall be invetsing Rs 202 crores for mechanization of EQ 7berth while
OSL group shall spend Rs 165 croes for mechanization of WQ-6 berth.
Shrushti Contech Pvt Ltd will invest Rs 152 crores for modernisation of Viskahapatnam port fishing
harbour.
AP headquartered Sravan shipping services has also evinced interest in investing Rs 50 crores in
EXIM park area for the purpose of covered storage godowns.
Key Public Sector MoUs:

NHAI and Indian Navy
Key Private Sector Investments:
Bothra Group, JM Baxi, AMNS, Trion

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