AP Maritime Board secured approval to raise funds worth Rs 15 billion for three greenfield port projects

The Andhra Pradesh Maritime Board has secured in-principle approval from the SBI-led consortium of banks to raise funds worth Rs 15 billion for the development of three greenfield port projects in the state. The three ports are Ramayapatnam, Bhavanapadu, and Phase I of Machil­i­patnam. The funds are likely to be provided for a period of 10 years.