Visakha Container Terminal expansion likely to see 20 per cent annual growth
Visakhapatnam: Visakha Container Terminal (VCT) is likely to achi-eve 20 per cent year-on-year growth in its total annual cargo container handling capacity at 2 million TEUs (twenty tonne equi-valent units) by 2020 from the current 0.36 million TEUs. The VCT was started in 2003 under the aegis of Visakhapatnam Port Trust with a quay length of 450 metre. Currently, it can simultaneously handle only two big vessels as it takes 12-15 hours for loading and unloading of a vessel.
The joint venture between DP World and JM Baxi Group had proposed the expansion of the quay length to another 395 metre in 2014 with an estimated amount of Rs 650 crore. However, the work has not yet started due to some financial reasons. The expansion work will start by the end of this financial year after the joint venture firm completes financial closure by February, 2018. The terminal can accommodate 3-4 vessels once the quay length is extended, Visakhapatnam Port chairman M.T. Krishna Babu said.
Along with the expansion, the chairman also plans for better connectivity, marketing and infrastructure facilities at the terminal. It has been offering huge incentives on vessel-related charges to the ships that are connecting to the international ports. The VCT has given 70 per cent concession on mainline vessels with a deadweight tonnage (DWT) of more than 50,000 and 35-50 per cent discount on the vessels with a DWT of below 50,000. These incentives prevent diversion of containers to other ports in the vicinity.
The deepest state of art container terminal has all the modern equipment including high capacity cranes, backup reach stackers and forklifts. Another vessel will also be deployed soon for container loading and unloading at the port. The terminal has recently introduced new service with a capacity to handle 5,500 TEUs to connect the Far East, including South East Asia. The new service would further increase the exports and imports of the port.
