The Cabinet Committee on Economic Affairs (CCEA) would decide on clearing the Rs 845 crore capacity enhancement project in Vishakhapatnam Port.
The project involves upgradation of the existing facility and creation of an iron ore handling terminal. The terminal for handling iron ore would be set up on DBFOT (Design, Build, Finance, Operate and Transfer) basis in two phases.
The Rs 845 crore includes Rs 170 crore upfront fee to the port. Currently, the existing Iron Handling capacity of the port is at 12 million tonne (mn t) and it may double up with the expansion.
As on March 31, 2013, the capacity of the port is 67.33 mn t and the envisaged capacity is 140 mn t and 149 mn t by 2016-17 and 2019-20, respectively.