Kakinada Seaports Limited (KSPL) has lined up Rs 800 crore to increase its handling capacity to 20 million tonnes. The port, which currently has four berths, has taken up various expansion works to augment the handling capacity.
“While three berths will be ready in two years, we are planning to construct six more over the next 3-4 years. This apart, to accommodate larger vessels we are deepening and widening the entrance channel. For all these, we will need Rs 800 crore,” KV Rao, chairman and managing director, KSPL, told mediapersons here on Wednesday.
Of the total investment, promoters would pump in Rs 200 crore and the remaining would come from financial institutions. The port has already spent Rs 425 crore for creating the four berths and additional infrastructure facilities.
KSPL saw a growth of 33.5 per cent in cargo handling in 2009-10, compared with the preceding year. “In 2008-09, we handled 7.8 million tonnes, which increased to 10.42 million tonnes this fiscal. During 2010-2011, we expect to handle 13 million tonnes of cargo,” he said.
The port mainly handles iron ore, coal, phosphoric acid, cement clinker, fertiliser and granite stones. In 2010-2011, it expects to handle sugar in large quantities, said Rao.
KSPL registered revenues of Rs 180 crore in 2009-2010 and is targeting to achieve Rs 230 crore in the next financial year. Rao said Singapore-based Sembawang Shipyard and KSPL were jointly developing a shipyard in Kakinada in which the latter had acquired 26 per cent stake.