Port-Led Development: AP Explores Partnership with International Players

 Vijayawada: The Andhra Pradesh government is seeking partnership with international players for port-led development in the state. The aim is also to create large-scale employment opportunities and help the state reach its goal of becoming a $2 trillion economy by 2047.

AP infrastructure and investment secretary Suresh Kumar presented the state’s vision at the 29th Economic Development Cooperation Fund conference, held by the Export-Import Bank of Korea (KEXIM) in Seoul on Tuesday. He was on a five-day tour of the Republic of Korea on an invitation from KEXIM.

Kumar has been meeting top officials of the Korean shipbuilding industry and exploring partnership for setting up shipbuilding and ship-repair facilities in AP. He is also meeting officials of Busan Port Authority, Hanjin Industries and Hyundai Industries, showcasing AP’s potential and advantage for prospective investment in the maritime sector.

“Our aim is to foster sustainable development by building world-class infrastructure, attracting global and domestic investments and positioning AP as a premier industrial hub. Establishing AP as a leading maritime state by 2030 is our focus area,” an official release here quoted him as saying there.

He said, “We are adopting innovative policies and ensuring efficient governance to achieve their objectives.”

In AP, the lone major port in Visakhapatnam and five non-major ports handled a cargo of 198 million tonnes in 2023. With four more non-major ports at Ramayapatnam, Machilipatnam, Kakinada and Mulapeta becoming operational soon at an investment of `16,000 crore, the state’s ports cargo handling capacity would increase by 110 million tonnes by 2025-26, the infrastructure secretary said.

He said the Proximal Area Development near ports, shipyard development and allied maritime activities were the focus areas along with the development of ports to the state government. As the state had a 5,000-acre land bank near upcoming greenfield ports, this would enable setting up of industries.

The secretary said the state government was ready to partner with the private sector for development of ports and fishing harbours.