Kandla Port Trust has also agreed to sanction a Rs 100 crore loan
In a low interest rate regime, many ports are offering surplus funds as inter-port loans, as these yield a higher rate of interest than banks.
Catching on to the trend, the Visakhapatnam Port Trust (VPT) has decided to extend a loan of Rs 50 crore to Ennore Port Ltd (EPL) at an interest rate of 9.75 per cent per annum.
EPL is the first corporatised port in the country, and ranks 12th on the list of major ports.
K V Gupta, financial adviser and chief accounts officer of VPT, said:
