Sector: Ports
Capacity: 139 mtpa (for three phases)
Investment: Rs 37 billion (Phase I)
Ownership: PPP
Implementing agency: Andhra Pradesh Maritime Board (APMB)
Mode of implementation: PPP-DBFOT
Start date: Yet to be decided
Expected completion: NA
The greenfield port has been conceived to give the much-needed push to the backward Prakasam district. The Andhra Pradesh cabinet approved the DPR and gave administrative sanction for Phase I of the greenfield non-major port at Ramayapatnam in June 2020. The state cabinet has also decided to acquire a total of 5,200 acres of land, of which 3,200 acres will be used for port construction and the remaining 2,000 acres for industrial establishment. With respect to project financing, APMB has been permitted to raise debt of Rs 20.79 billion for the project. The board has also been permitted to raise a certain amount of its revenue as equity and escrow in the future for funding the project’s debt as per the AP Maritime Board Act, 2019. A number of Japan- and Netherlands-based companies have expressed their interest in developing the port.