Essar Vizag Terminals Ltd has been awarded a 30-year concession by Visakhapatnam Port Trust to develop and operate three iron ore berths. Two of these will be in the outer harbour, the third in the inner harbour, with a combined capacity of 23mt (million tonnes).

The project will be developed at a cost of $1.9 billion over a period of three years.

In the 2013 financial year,Vishakhapatnam Port handled 12.3mt of iron ore.