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Krishnapatnam Port pins hopes on coal imports for growth

Krishnapatnam Port expects nearly 50% growth in its revenues this fiscal thanks to spurt in import of coal for thermal power units.

, ET Bureau|
Updated: Oct 04, 2014, 10.38 PM IST
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Krishnapatnam Port expects nearly 50% growth in its revenues this fiscal thanks to spurt in import of coal for thermal power units.
Krishnapatnam Port expects nearly 50% growth in its revenues this fiscal thanks to spurt in import of coal for thermal power units.
KRISHNAPATNAM (NELLORE): Krishnapatnam Port, the largest private port India’s east coast, expects nearly 50% growth in its revenues this fiscal thanks to spurt in import of coal for thermal power units as Supreme Court recently cancelled over 200 captive coal blocks.

The port near Nellore in Andhra Pradesh, owned by the CVR group, hopes to see coal imports crossing 30 million tons from 20 million tons last year, taking the overall cargo handling to 35 million tons from 24 million tons.

“The spurt in coal imports should help us post at least 50% increase in sales at around Rs 1,800 crore this fiscal from Rs 1,200 crore in year to March 2014,” said C. Sasidhar, managing director of Krishnapatnam Port Company Ltd (KPCL)

Dozens of power companies, both public and private, are currently building coal-fired electricity generating units in and around Krishnapatnam, involving at least 14,000MW of capacities, which propose importing at least 30% of their coal requirement.

He was talking to visiting journalists at the port late on Friday after flagging off container services of Shipping Corporation of India to Myanmar.

During last fiscal, the port handled a total cargo of 24.37 million tons, which includes 21.12 million tons of imports. While coal imports stood at 19.75 million tons, fertilizer imports amounted to 1.37 million tons.

Spread over 6,500 acres, the port at present has an installed cargo handling capacity of 70 million tons of cargo handling capacity, Its newly built container terminal can handle 1.2 million tons capacity now, which is being proposed to be expanded to 6 million tons over next 5-6 years.

“We are looking at launching weekly liner service to Yangon port of Myanmar from Krishnapatnam and also introduce larger vessel with a capacity of 4,500 TEUs as against 1,200 TEUs now,” said Shipping Corporation’s director Captain S. Narula. “Within six months, the Corporation plans to introduce similar direct liner services to Vietnam from the east coast and later to Thailand. We see huge potential in Vietnam.”

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