A public-private initiative, Vizag Seaport Private Limited (VSPL), is to invest $32 million in the development of a dry bulk handling facility near the port of Visakhapatnam in Andhra Pradesh. For this, 50 acres of land have been set aside. The terminal will handle mostly coking coal and gypsum. The promoters Gammon Infra and Last In Holdings will be responsible for the debt financing.
VSPL has been in existence for five years and has a portfolio of 10 customers, including India's main steel producer, SAIL, as well as cement and power plants, for which it mainly handles coking coal. In the last fiscal, its two existing berths at the port handled 7.5 million tonnes.