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MoUs worth Rs. 30,443.91 crores signed by VPT


Visakhapatnam Port Trust today signed MoUs worth Rs. 30,443.91 with Hindustan Petroleum Corporation Ltd, Arcelor Mittal Steel India, Dredging Corporation of India, Integral Logistics and Department of Fisheries, Government of Andhra Pradesh during the curtain Riaser to Maritime Sumit 2021 to be held from 2nd to 4th March 2021.

Speaking during the event, VPT Chairman K Rama Mohan Rao said that the main objective of the summit is to position the Indian maritime sector on par with international standards by attracting domestic as well as international investments and stated that various investment opportunities available for the development of Ports and Maritime related activities in the state of Andhra Pradesh are likely to be showcased in the special session as well as in the digital pavilion. Also, it will provide an excellent forum for the exchange of ideas and networking between partner countries.


Stakeholders in the maritime sector such as policy planners, government agencies, domestic and international investors, sector experts, shipping lines, and representatives of ports across the globe, State maritime boards and others will participate in the summit and various themes such as the development of port infrastructure, shipbuilding, recycling and repair, hinterland connectivity, multi-modal logistics, coastal shipping, inland water transport, bulk cargo transportation and green technologies, skill development and Maritime financing will be deliberated on three days of the summit.

Mr. Rama Mohan Rao said that major ports, DG Shipping, Shipping Corporation of India, Shipyards, Dredging Corporation of India, Maritime Boards and other maritime agencies are expected to sign MoUs for investments in the maritime sector, including the development of port-led industries, during the summit and the Visakhapatnam Port Trust will be signing MoUs with investors with an estimated investment of Rs. 45,000 crores in port-led industries.

The session on “Port-led industrialization: Building Port cities and Maritime Clusters” is jointly convened by the VPT and the Chennai Port Trust with the support of Chairmen, JNPT, DPT & Kolkata, on March 3. There will be a special session on investment opportunities in Andhra Pradesh on the 3rd of March and chief minister YS Jagan Mohan Reddy has confirmed his participation in the session. About 20,000 delegates from 42 countries are expected to take part in the summit, said the VPT Chairman.

VPT and industries like RINL, AP State Maritime Board, non-major ports and the private terminal operators are setting up digital pavilions and stalls to project their activities and investment opportunities to the viewers, he said. VPT Chairman has appealed to all the stakeholders to get registered for the upcoming MIS 2021 and to gain knowledge being shared by the stalwarts in the Maritime Sector, which would be of immense use to their future prospects.

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