• Indian port already looking to increase container capacity as new terminal opens for commercial operations

Krishnapatnam Port, whose new container terminal commenced operations yesterday, is planning to invest US$2 billion to increase the capacity of the Indian port in the second phase of its expansion, according to the port’s chief executive.

Speaking to the Economic Times, Anil Yendluri said that the port had already invested $1 billion, and is planning to “invest another $2 billion in the next five to six years to increase capacity in both the bulk as well as container segments.”

However, Yendluri declined to comment on how the port would finance such a project, however, he added that private equity fund 3i has an investment in the CVR Group promoted port.

Yendluri added that the first vessel to call at the port’s new container terminal arrived yesterday, and that the new facility has already secured the fortnightly call of a Bengal Tiger Line feeder service.

The new terminal and its two deepwater berths currently boast an annual capacity of 1.2 million TEU – the planned expansion will see Krishnapatnam’s capacity increase to 6 million TEU.

Earlier this year, Krishnapatnam Port overtook Mumbai to become the deepest draft port in India, and is now capable of accepting vessels with a maximum permissible draft of 18.5 meters. Plans are currently in place to increase the port’s draft to as much as 21 meters.

source: http://www.porttechnology.org / September 28th, 2012