BS reported that Visakha Container Terminal Private Limited, the container terminal operator at Visakhapatnam Port, is planning to spend about INR 120 crore over the next two years to increase its handling capacity.

Mr R Ravi Kumar vice president of Visakha Container Terminal Private Limited told Business Standard that “Initially, VCTP invested more than INR 100 crore to develop a handling capacity of 300,000 container boxes a year. Now we want to increase our handling capacity to 600,000 boxes a year for which we have lined up about INR 120 crore.”

Mr Kumar said that “During the first half of the current fiscal, the company handled 45843 container boxes. We expect container cargo from the Nepal government, apart from some new cargoes like tobacco and waste paper this year which will help us meet our target.”

The company has already started negotiations with major cranes manufacturing firms in this regard.

Visakha Container Terminal Private Limited handled 87,637 container boxes during the last financial year and is targeting to handle 100,000 container boxes this year.

Visakha Container Terminal Private Limited was jointly developed by Dubai Ports World and United Liner Agencies of India.

(Sourced from Business Standards)