IFC to invest US$8m in Visakha Container Terminal

By on Sep 2, 2010

The International Finance Corporation (IFC) proposes to invest around US$8 million in the Visakha Container Terminal at the port of Visakhapatnam in Andhra Pradesh, India

The investment would support the terminal operator's investment of $233 million to upgrade existing port infrastructure, doubling the terminal's handling capacity to 300,000 TEU

According to the IFC, the expanded capacity at Visakhapatnam would ease capacity constraints at the congested east coast ports of Haldia and Kolkata

Visakha Container Terminal, a 74:26 joint venture between United Liner Agencies and DP World, secured a thirty-year BOT concession to operate the terminal in 2002

Since operations began in June 2003, traffic has increased by approximately 20% a year