With an investment of Rs 9,500 crore, Visakhapatnam Port Trust (VPT) will establish a major port at Duggarajupatnam in Nellore district of Andhra Pradesh. The exact location proposed for the port is at Duggarajupatnam, where four berths would be constructed. The site would be developed as a major port in the East Coast, VPT said in Visakhapatnam.
VPT will start the project with an initial investment of Rs 4,500 crore and would spend the remaining sum within a span of 30 years on the project, the VPT said. A feasibility report is being prepared by Rail India Technical and Economic Service (RITES) and a special purpose vehicle will be floated for setting up the port.