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Gangavaram Port Ltd. has taken a loan of Rs. 11.70 billion from a consortium of 13 banks, including the State Bank of India, to fund the Phase I development. Adani Ports announced on 3 March 2021 that it had acquired a 31.5% stake in Gangavaram Port from Windy Lakeside Investment, an affiliate of Warburg Pincus , for ₹ 1,954 crore (US$230 ...
The inauguration of the Gangavaram Port, located 15 km away from the Visakhapatnam Port, has led to a significant diversion of traffic away from Visakhapatnam. It has the capacity of accommodating ocean liners of 200,000–250,000 DWT. The Visakhapatnam Port Trust plans to develop a satellite port at Bheemunipatnam to reduce the traffic. [16]
The whole village was vacated and construction of the port began in December 2005, and commercial operations commenced in August 2008. The port was formally inaugurated in July 2009, by the then Chief Minister of Andhra Pradesh, Y S Rajasekhara Reddy. The port is called Gangavaram Port which was named after the beach. Fishermen in the villages ...
View of Kakinada port from Beach. The state's ports handled 73 million tons of cargo in financial year 2015–16. [3] The state of Andhra Pradesh is the second maritime state (after Gujarat) in terms of cargo handled by Non-Major Ports and the third maritime state (after Gujarat and Maharashtra) in terms of overall cargo handled including Visakhapatnam port trust .
Rashtriya Ispat Nigam Ltd (abbreviated as RINL), also known as Vizag Steel, is a central public sector undertaking under the ownership of Ministry of Steel, Government of India based in Visakhapatnam, India.
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Adani Ports and Special Economic Zone Limited (APSEZ) is an Indian multinational port operator and logistics company, part of Adani Group. [9] [10] APSEZ is India's largest private port operator with a network of 12 ports and terminals, including India's first port-based SEZ at Mundra and the first deep water transshipment port at Thiruvananthapuram.