The Hindu Business Line : Gangavaram Port financial closure in six months

THE Detailed Project Report (DPR) for the Gangavaram Port near Visakhapatnam will be ready within the next week and the project will achieve financial closure in six months.

Giving this assurance to the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy on Tuesday, the officials of the special purpose company, Gangavaram Port Limited, said the project would be completed by December 2006.

The port, with six berths would have a traffic potential of 27.4 mtpa in short term and 103.3 mtpa in long term. It can handle import and export of coal, iron ore and other dry bulk cargo. In the master plan, it would have 25 berths, they explained to the CM.

It would be the deepest and only port in the country, which could accommodate vessels of even 2,00,000 DWT (dead weight tonnage).

Discussions with the Visakhapatnam Steel Plant, Hindusthan Petroleum Corporation, Steel Authority of India, L&T and other major public and private sector companies was on for cargo tie-ups.

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