VPT net surplus to touch Rs 49 crore

Visakhapatnam Port Trust (VPT) is expecting Rs 49 crores net surplus during this fiscal, and is anticipating Rs 48.5 crores net surplus during the year 2004-05.

The board of trusties of VPT, which met here on today, approved of the annual accounts for the year 2002-03 and also revised the budget estimates for the year 2003-04 and 2004-05.

The port trust recorded the highest operating surplus of Rs 210 crores in 2002-03, and as per revised estimates, the port's income is projected at Rs 446 crores in 2003-04 as against actual income earned Rs.441 crores in last fiscal, and for the year 2004-05 the income is estimated at Rs 447 crores.

The total expenditure is estimated at Rs 397 crores in current fiscal and Rs 339 crores in 2004-05. The capital expenditure is expected to be of the order of Rs 63 crores in 2003-04 and Rs 59 crores in 2004-05.

Regarding the operational performance, the revised traffic estimates for the year 2003-04 stands at 46.5 million tonnes and budget estimates for the year 2004-05 at 47 million tonnes.

According to port sources, the average pre-berthing detention to a vessel calling at the port, which was 3.12 hours in 2002-03, has further improved to 1 hour in the current fiscal.

Similarly, the average turn-round time of a vessel, which was around 2.94 days in 2002-03 has further improved to 2.64 days in the current fiscal.

The port of Visakhapatnam tops in output per berthday compared to Chennai, JNPT, Kandla and major ports in the country, stated a VPT press release.