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Foundation stone for Ramayapatnam port to be laid on 9 January 2019

Wednesday, 02 Jan 2019
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The foundation stone for the Ramayapatnam port in Prakasam district of Andhra Pradesh will be laid on 9 January 2019. The construction of the port is to be undertaken through a special purpose vehicle to be set up for the purpose.

The government of Andhra Pradesh will have 11 percent equity in the project. NMDC will be the majority stakeholders in the port while the Visakhapatnam Port Trust (VPT) and fertilizers cooperative IFFCO will be other minority stakeholders.

The project envisages the construction of a harbour, with six berths to handle cargo, and ship building and breaking facilities and also have a fishing harbour.

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