Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy on 19 April, 2023 laid the foundation stone for the Rs 4,362 crore Mulapeta Port in Srikakulam district.

The Mulapeta Port, being built across 1,250 acres of land parcel with an annual capacity of 23.5 million tonne, will have four loading and unloading berths, which will enable handling of coal, multipurpose containers, and general cargo, as also the exports and imports arriving from Chhattisgarh, Jharkhand, Madhya Pradesh and Odisha.

The CM stated that the project will encourage the growth of ancillary industries in the nearby areas and would provide employment to the local communities. It will potentially generate direct and indirect job opportunities for 25,000 people.

The project is expected to be completed in a span of two years.

The CM also laid the foundation stones for a Rs 360 crore fishing harbour at Budagatlapalem, Rs 176.35 crore Vamsadhara lift irrigation project, and Rs 300 crore Mahendratanaya offshore reservoir project works.