Tuesday, July 22, 2008

Navayuga unveils India's largest private sector port in Krishnapatnam

Billed to usher in a new chapter in Indo-Gulf and Indo-Far Eastern trade, the Krishnapatnam Port is promoted by Navayuga Group, which recently entered the UAE market with its subsidiary company Navayuga Engineering (NEC) targeting a turnover of Dhs800m from the region by the end of 2009.

Navayuga had won a build-operate-share-transfer (BOST) concession from the Andhra Pradesh government for the port, which has a total capital expenditure of INR120bn (Dhs10bn; $2.75bn). The port is the first of the state-owned minor ports to be awarded to a private company for development and operations. Mr Chinta Visveswara Rao, Chairman and Managing Director, Navayuga Group, said the port will have an eventual cargo capacity of 125 million tonnes, and will be one of the largest container terminals in the country.

'The port will play a key role in further energizing trade between India and the Gulf region, with its dedicated iron ore handling units, coal jetties and general cargo handling facilities.' A modern deep-water and high-productivity port, Krishnapatnam is expected to move some 200,000 containers in the very first year of operation. The first phase envisages the logistics of handling 14 million tonnes of iron ore, 7 million tonnes of coal and 2 million tonnes of general cargo per year with a maximum ship size of 65,000 DWT (depth - 13.2 m C.D). The first phase of the port, features four berths each of 300 metres length and capacity to handle four vessels each with 50,000 tonnes of cargo.

When the second phase is completed shortly, seven more berths will be added, and when completed there will be 41 berths with a total quay length of 12.5 km and draft of 19 metres. The port will eventually have a capacity to handle 5 to 7 million TEU. 'Krishnapatnam Port has brought in a new dynamic to the region, with excellent connectivity by road, rail, sea and air,' said Mr M. K. Padia, Chief Executive Officer, Krishnapatnam Port Company Limited (KPCL). 'Nellore is today on the verge of an industrial revolution with several engineering companies from around the world having set base here.

There are firm plans for generating 12,000 MW of power in the locality.' Apart from a massive housing complex, Navayuga Group also has plans to build a 1,800 MW power unit in the locality, thus adding to the overall support-infrastructure.

Multinational companies have announced plans to set up a Leather Park and Textile Park, which will further boost the domestic manufacturing capabilities. Mr Antony David, General Manager, Navayuga Engineering Company Ltd (Abu Dhabi), said: 'Recent statistics by the Abu Dhabi Customs Administration state that India is one of the UAE's top-three re-export destinations.

Foreign trade between the two countries is growing, and Krishnapatnam Port will play a key role in further strengthening bilateral trade.' Krishnapatnam Port has a back-up area of 6,000 acres and features a hi-tech mechanized cargo handling system including ship loaders and unloaders backed by stackers, reclaimers, wagon loaders and tippers connected to a conveyor system. Billed to have one of the fastest turn-around times for any Indian port, Krishnapatnam will offer side-berth operation to load bulk, break bulk and container cargo.
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