Visakhapatnam: Prime Minister Narendra Modi laid the foundation for four major projects of the Visakhapatnam Port Authority from New Delhi on the occasion of the prestigious Global Maritime India Summit (GMIS) held in Mumbai on Tuesday.
The Port here has taken up mechanisation through public-private partnership (PPP) mode. This involves an investment of Rs 655.00 crore. The port is mechanising the activities at four berths -- namely EQ-7, WQ-6, WQ-7 and WQ-8. The PM did the foundation-laying for these projects in virtual mode.
Speaking at the summit (GMIS) via video link, the PM said India was able to forge a historic consensus at the G-20 for IMEEC. “The initiative will prove to be an instrument for prosperity, this is nothing but new age Silk Route. The corridor has the potential to transform the global maritime industry," he said.
Modi said the initiative announced at the G20 meeting in New Delhi earlier this year would drive positive changes in global and regional trade. "For investors, this is an opportunity to partner with India.”
The prime minister also inaugurated the Phase 2 extension of Visakha Container Terminal on a design-build-finance-operate-transfer basis. The total cost of the project is Rs 633.00 crore.
The laying of the foundation and the dedication of these projects were arranged at Visakha Container terminal premises. Officials of the Visakha port authority and employees of the privately-owned Visakha container terminal, JM Baxi and others were present.
