Visakha terminal to spend US$25.6 million to double capacity

VISAKHAPATNAM port on the east coast between Calcutta and Madras will spend INR120 crore (US$25.6 million) on the Visakha Container Terminal to double its capacity to 600,000-TEU a year, reports India's Business Standard.

During the first half of the current fiscal year, the company handled 45,843 TEU. "We expect container cargo from the Nepal government, apart from some new cargo like tobacco and waste paper this year, which will help us meet our target," said company vice president R Ravi Kumar.

The port is already in discussion with cranes manufacturers to fit out the terminal which handled 87,637-TEU last financial year.

(Source: www.schednet.com)