Krishnapatnam Port likely to complete land acquisition in six months

    Krishnapatnam Port likely to complete land acquisition in six months

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    Krishnapatnam PortKrishnapatnam Port ​is ​likely to ​complete its land acquisition in the next six months for ​the proposed​ Rs​.​11,000 crore smart city cum industrial area planned with the government, according to its Managing Director, Chinta Sasidhar. The company has already acquired 5,000 acres and will acquire 1,000 acres more. The Andhra Pradesh government will provide an additional 8,000 acres. The Japan Industrial Co-operation Agency (JICA) will help in raising funds. This is expected to bring in major development in the Vizag-Chennai industrial corridor. The whole smart city was initially supposed to comprise 12,000 acres but the government later expanded the plan to make it a 14,000 acre project. Krishnapatnam Port is promoted by the Hyderabad-based CVR Group. Navayuga Engineering Company (NECL) is the flagship entity of CVR Group and is the EPC contractor for the port. The industrial area will be set up at Chillakur Mandal, Nellore. A host of projects, including auto an cillary, chemical, cold storage, container freight station, food processing, heavy machinery , ITITES, leathe, pharmaceuticals, refineries, warehousing, textile parks, residential complexes and educational facilities are planned in the area. Krishnapatnam Port currently has the capacity to handle 6070 million tons of bulk cargo and 1.2 million TEUs of container cargo. Last year, it handled 57% of its bulk capacity and a tenth of its container cargo capacity. Phase II of the expansion project is already on.

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