The Adani Group-owned Krishnapatnam Port Co Ltd (KPCL) has received backing from a key government agency tasked with recommending environmental and coastal regulation zone (CRZ) clearance for the third and final phase expansion of the port, with an investment of ₹12,256 crore.
The expert appraisal committee (EAC) attached to the ministry of environment, forest and climate change recommended environmental and CRZ clearance to the third phase expansion during a meeting held on December 14.
The port with a depth of 18.5 metres, located in Nellore district of Andhra Pradesh, currently has capacity to handle 64 million tonnes (mt) of cargo and 2 million twenty-foot equivalent units (TEUs) of containers.
On October 5, Adani Ports and Special Economic Zone Limited (APSEZ) completed the acquisition of a 75 per cent stake in Krishnapatnam Port Company from the CVR Group for an enterprise value of ₹12,000 crore.
Krishnapatnam is India’s second largest private port and APSEZ plans to convert it into a “Mundra” on the eastern coast and help achieve the target of building 500 mt of cargo handling capacity by 2025.
Mundra, located in Gujarat, is the flagship port of APSEZ and India’s biggest commercial port.
The third-phase development of Krishnapatnam port involves constructing twenty berths and three Single Buoy Moorings (SBMs) to create capacity for handling an additional 154 million tonnes (mt) of dry and liquid bulk cargo plus 2.2 million TEUs of containers.
When the third phase is completed, the port will have an overall capacity to handle 250 mt of non-container cargo and 5.5 million TEUs of containers.
Source: The Hindu Business Line
