Machilipatnam Port construction to be completed by October 2025
PORTS & SHIPPING

Machilipatnam Port construction to be completed by October 2025

In a notable development for India?s maritime infrastructure, Minister of Ports, Shipping, and Waterways Sarbananda Sonowal provided an update on the Machilipatnam Port project in Parliament. The construction, which commenced on April 21, 2023, is slated for completion by October 2025.

The Machilipatnam Port, a non-major port under the Andhra Pradesh government, is being financed with a significant term loan of Rs 39.40 billion from the Power Finance Corporation (PFC). This funding is allocated to the Machilipatnam Port Development Corporation Limited (MPDCL), a subsidiary of the Andhra Pradesh Maritime Board (APMB). Despite not being part of the central government's Sagarmala Scheme, the project is progressing with robust financial backing.

The Visakhapatnam Port Authority and the Inland Waterways Authority of India (IWAI) are also contributing to Andhra Pradesh's port sector, investing Rs 46 billion in 36 projects. Of these, 22 projects worth approximately Rs 25.30 billion have been completed, while 14 projects valued at Rs 20.70 billion are underway. Notably, a new International Cruise cum Coastal Terminal at Visakhapatnam Port is being developed to serve both international and domestic passengers.

India's port capacity has grown significantly, surpassing 2,500 Million Tonnes Per Annum (MTPA) in the fiscal year 2022-23, marking an 86% increase since 2014-15. This period also saw the cargo handling capacity at Major Ports double, demonstrating the government's commitment to improving port infrastructure and operational efficiency.

Under the Sagarmala initiative, two Centres of Excellence in Maritime and Shipbuilding (CEMs) have been established in Mumbai and Visakhapatnam. The Visakhapatnam campus, integrated with the Indian Maritime University, is the first of its kind in Asia, featuring 18 laboratories and providing engineering and technical skills training to over 10,000 students.

(FE)

In a notable development for India?s maritime infrastructure, Minister of Ports, Shipping, and Waterways Sarbananda Sonowal provided an update on the Machilipatnam Port project in Parliament. The construction, which commenced on April 21, 2023, is slated for completion by October 2025. The Machilipatnam Port, a non-major port under the Andhra Pradesh government, is being financed with a significant term loan of Rs 39.40 billion from the Power Finance Corporation (PFC). This funding is allocated to the Machilipatnam Port Development Corporation Limited (MPDCL), a subsidiary of the Andhra Pradesh Maritime Board (APMB). Despite not being part of the central government's Sagarmala Scheme, the project is progressing with robust financial backing. The Visakhapatnam Port Authority and the Inland Waterways Authority of India (IWAI) are also contributing to Andhra Pradesh's port sector, investing Rs 46 billion in 36 projects. Of these, 22 projects worth approximately Rs 25.30 billion have been completed, while 14 projects valued at Rs 20.70 billion are underway. Notably, a new International Cruise cum Coastal Terminal at Visakhapatnam Port is being developed to serve both international and domestic passengers. India's port capacity has grown significantly, surpassing 2,500 Million Tonnes Per Annum (MTPA) in the fiscal year 2022-23, marking an 86% increase since 2014-15. This period also saw the cargo handling capacity at Major Ports double, demonstrating the government's commitment to improving port infrastructure and operational efficiency. Under the Sagarmala initiative, two Centres of Excellence in Maritime and Shipbuilding (CEMs) have been established in Mumbai and Visakhapatnam. The Visakhapatnam campus, integrated with the Indian Maritime University, is the first of its kind in Asia, featuring 18 laboratories and providing engineering and technical skills training to over 10,000 students. (FE)

Next Story
Real Estate

Pune Records 11% Drop in Property Registrations in Nov

Property registrations in Pune saw a decline of 11 percent year-on-year in November, totaling 13,371 units, despite robust demand, according to a report by Knight Frank India. The real estate consultancy revealed that the total registrations in November 2024 generated a revenue of Rs 475 crore for the state. This marked a fall from last year's figure of 14,988 units in the same month. Compared to October 2024, when 20,894 units were registered, November’s figures represent a 36 percent decrease. Shishir Baijal, Chairman and Managing Director of Knight Frank India, stated that Pune’s proper..

Next Story
Infrastructure Energy

Oriana Power Signs MoU with Rajasthan in Clean Energy

Oriana Power, a publicly-listed company on the NSE, announced on Monday that it has entered into a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 10,000 crore in a series of clean energy projects. The projects will focus on solar energy, floating solar, green hydrogen, and energy storage solutions. The agreement was finalized in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana Power has identified six key locations in the state for these projects, including one in Bikaner, two in Churu, and three in Phalodi districts. Rupal Gupta, M..

Next Story
Infrastructure Energy

PM Surya Ghar Scheme Set to Surpass 10 Years of Solar Growth

The PM Surya Ghar Muft Bijli Yojana has achieved a remarkable milestone, surpassing 6.85 lakh solar installations within a year and poised to exceed a decade's worth of solar growth. The scheme, launched in February 2024, has already achieved 86 percent of the solar installations made in the last ten years. The 3-5 kW segment accounted for the majority of installations, at 77 percent, while 14 percent of installations were in the 5kW+ category. Gujarat led the charge with 2,86,545 installations, followed by Maharashtra with 1,26,344, Uttar Pradesh with 53,423, and Kerala. The scheme, which now..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000