Krishnapatnam Port plans to set up car terminal by Jun 2013

Krishnapatnam Port plans to set up car terminal by Jun 2013
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Nov 20, 2012, 09.14 PM | Source: PTI

Krishnapatnam Port plans to set up car terminal by Jun 2013

Krishnapatnam Port plans to set up car terminal by Jun 2013

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Krishnapatnam Port plans to set up car terminal by Jun 2013

Krishnapatnam Port plans to set up car terminal by Jun 2013

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Nellore (AP), Nov 20 (PTI) The Krishnapatnam Port, which primarily handles coal at present, is planning to build a car terminal by next June and is in talks with original equipment manufacturers for shipping vehicles from the proposed facility, a top official has said. "We already have the basic infrastructure in place which can be customised as per the wishes of the clients. We are in talks with OEMs(original equipment manufacturers) for shipping cars from our facility," chief executive Anil Yendluri told visiting reporters at the port in Nellore district of Andhra. He said the car terminal could be commissioned by the first quarter of the next fiscal. A senior port official said a berth is already in place in the south block of the port having a channel depth of 18 metres, and additionally, land will be made available for developing a parking space nearby for exporters. The South-based auto manufacturers like Hyundai, Ford and Nissan presently send their export cargo from Ennore and Chennai ports. Yendluri said there are quite a few manufacturers like Toyota and Renault which are bullish on exports. He added the port is in talks with both the existing as well as prospective exporters. A liquid bulk terminal, bunkering facilities and a dedicated container freight station are among the other facilities which the port is contemplating, beyond the existing bulk handling, coal berth, edible oil terminal and container terminal, the official added. The Eastern-coast port, which began operations in 2008, initially focussed on iron ore exports but events like the ban on ore exports made them move away and focus more on coal. Now with Reliance Power's 4,000 MW thermal power project nearby facing some issues, there are some worries for the port. Playing down the concerns, Yendluri said there has been "a bit" of impact due to thermal project delay but added the company's strategy has been to diversify into other commodities like foodgrain, edible oils and fertilisers. As for the capex plan, the Hyderabad-based CVR Group-promoted port has been forced to redraw its investment flows. "We always had the diversification in mind, but some of the investments had to be advanced due to these developments. Thankfully, we have the backing of a strong group which is present in engineering and infrastructure," he said. The port, which is backed by private equity major 3i, posted a net profit of Rs 70 crore and turnover of Rs 700 crore in FY12, handling 15.6 million tonne cargo, and Yendluri said it is aiming to grow it by 30 per cent this fiscal. In FY12, the port handled 11.7 million tonnes (mt) of coal, 1 mt of granite and 2.3 mt of fertilisers, he said adding coal alone would touch up to 16 mt this fiscal. Under the 30-year concession agreement with Andhra, the port will be passing 2.7 per cent of the total billing to the state for the first 30 years, which will go up to 5.4 per cent from the 30th year and 10.8 per cent from 40th year. PTI AA BEN ABC KSR BSM

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