The Visakhapatnam Port Authority (VPA) has signed a concession agreement with Integrated Cargo Terminal Private Limited, a special purpose vehicle (SPV) formed by Orissa Stevedores Limited for the revamping of its western quay (WQ)- 6 berth at the port.
The revamping of WQ- 6 berth involves revamping of the existing WQ-6 terminal in the northern arm of the inner harbour at Visakhapatnam Port for handling of dry bulk cargo on design, build, finance, operate and transfer basis. The capacity of the container cargo is 5.18 million tonnes per annum. The work is likely to be completed at an estimated project cost of Rs 1.66 billion which includes a revamping cost of Rs 885 million and Rs 772 million as upfront amount towards existing infrastructure.