Visakhapatnam port inks pact with companies for Rs 30,000 crore business

Friday's MoUs by VPT include Rs.26,264 crore worth business with HPCL under which the port would allot 110 acres for HPCL's expansion programmes

Visakhapatnam: The Visakhapatnam Port Trust on Friday reached business pacts with various companies to the tune of Rs.30,334.91 crore.

VPT chairman K. Rammohan Rao on the occasion, said that Maritime India Summit would be held through video conference from March 2 to 4 to attract international investments. Prime Minister Narendra Modi would inaugurate the summit in which over 20,000 delegates from 24 countries will participate, via virtual mode. Andhra Pradesh Chief Minister YS Jaganmohan Reddy would address the summit on March 3, he revealed.

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Friday’s MoUs by VPT include Rs.26,264 crore worth business with HPCL under which the port would allot 110 acres for HPCL’s expansion programmes, Rs.600 crore business with ArcelorMittal where VPT would allot 157 acres for expansion of its plant, and Rs.125 crore pact with the Dredging Corporation of India under beach nourishment programme.