Krishnapatnam Port Company Ltd (KPCL) today said it recorded an 88 per cent jump in handling of containers the during the last fiscal while cargo handling was up 25 per cent to 45 million tonnes (MT).
The port has planned a total investment of USD 3 billion (about Rs 19,873 crore), of which USD 1.23 billion (around Rs 8,146 crore) has already been invested for development till date with the second phase of expansion underway, KPCL said in a statement.
The company handled 45 MT of cargo in 2017-18, achieving a 25 per cent growth over 36.10 MT handled in the previous fiscal, it said.
"The company witnessed a record 88 per cent rise in the number of containers it handled at 4,81,408 TEUs vis a vis 2,55,439 TEUs during the last fiscal. Total bulk cargo handled by the port stood at 37 MT," the statement said.
The company said its cargo portfolio was dominated by coal, iron ore and granite.
It added that it is now aspiring to achieve an impressive 52 MT in bulk and 2 lakh TEU in containers this fiscal.
KPCL Director and CEO Anil Yendluri said, Favorable government policies and handling of new cargo such as sand, steel products and agri-commodities have added to the growth of our shipments."
"Cargo in Andhra-Telangana, north and east Karnataka, besides eastern parts of Maharashtra which were earlier going to other ports have witnessed an instant cost advantage availing route optimization, multi-modal connectivity, and competitive pricing after they switched to Krishnapatnam Port, he added.
The company said the number of vessels visiting the port rose by 22 per cent to 1,290 vessel calls in 2017-18 as against 1,061 vessels last year.
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