₹7,000 Crore Boost for Andhra Pradesh Ports under Sagarmala Project

Andhra Pradesh is set to receive a ₹7,000 crore investment under the Sagarmala initiative, announced by Union Minister Sarbananda Sonowal. This investment includes 29 new projects proposed by the Andhra Pradesh government, totaling ₹3,300 crore, with the Union Ministry funding four projects worth ₹1,200 crore.

The development plans for Bhavanapadu, Ramayapatnam, and Machilipatnam ports are being restructured to secure funding under the PM GatiShakti scheme. Additionally, projects related to Coastal Berths and Fish Landing Centres are awaiting approval from the Ministry of Finance.

The Visakhapatnam Port Authority and IWAI have initiated 36 projects in the state, amounting to ₹4,600 crore. Of these, 22 projects worth ₹2,530 crore have been completed, while the remaining 14 projects, valued at ₹2,070 crore, are progressing. A notable development is the construction of an international cruise and coastal terminal at Visakhapatnam Port.

The Sagarmala initiative aims to revolutionize the maritime sector by leveraging India’s coastline and waterways for port-led development. Funding combines Public-Private Partnerships, equity participation, and Grant-in-aid assistance.

Sonowal highlighted that the nation’s port capacity surged to over 2,500 MTPA by 2022-23, marking an 86% increase since 2014-15, with Major Ports’ cargo handling capacity doubling in the same period.

News by Rahul Yelligetti