Krishnapatnam Port expects cargo and revenue to grow 40pc this year KRISHNAPATNAM Port is expected to grow 40 per cent in cargo and in revenue in the latest 2012/2013 fiscal year to 30 million tonnes with revenues rising to INR6.3 billion (US$114.8 million) year on year.
The port, 200 kilometres north of Chennai on India's east coast, maintains its volumes largely from coal at 22 million tonnes, with over half of this imported coal of 16 million tonnes against iron ore exports, which have flatlined.
Port CEO Anil Yendluri said construction of the INR55 billion (US$1.05 billion) container terminal, with an annual capacity of 1.2 million TEU at full build out, is on track with first phase now complete.The project will be funded through internal revenue, bank loans and private equity at INR110 billion in second phase, which will cost INR165 million. A further INR900,000 will pay for other equipment.
Mr Yendluri said the second phase, to be completed in five to six years, will increase capacity another 4.8 million TEU, bringing total capacity to six million TEU. Some INR110 billion in the second phase will take the total expenditure to INR165 billion.
The first phase will build two berths with 13.5 metres alongside. The company plans to add seven berths in the second phase and increase draft to 18 metres with 42 berths once complete. It will be able to handle 200 million tonnes of cargo including six million TEU.
"Once completed, the facility will be bigger than the top two ports put together," Mr Yendluri said of a terminal now with a 20,000 TEU capacity. But we are expecting significant growth as imports continue to rise."
The port, 200 kilometres north of Chennai on India's east coast, maintains its volumes largely from coal at 22 million tonnes, with over half of this imported coal of 16 million tonnes against iron ore exports, which have flatlined.
Port CEO Anil Yendluri said construction of the INR55 billion (US$1.05 billion) container terminal, with an annual capacity of 1.2 million TEU at full build out, is on track with first phase now complete.The project will be funded through internal revenue, bank loans and private equity at INR110 billion in second phase, which will cost INR165 million. A further INR900,000 will pay for other equipment.
Mr Yendluri said the second phase, to be completed in five to six years, will increase capacity another 4.8 million TEU, bringing total capacity to six million TEU. Some INR110 billion in the second phase will take the total expenditure to INR165 billion.
The first phase will build two berths with 13.5 metres alongside. The company plans to add seven berths in the second phase and increase draft to 18 metres with 42 berths once complete. It will be able to handle 200 million tonnes of cargo including six million TEU.
"Once completed, the facility will be bigger than the top two ports put together," Mr Yendluri said of a terminal now with a 20,000 TEU capacity. But we are expecting significant growth as imports continue to rise."