Visakhapatnam Port Authority has signed MoU with NHAI PSU Watch
GMIS 2023

Visakhapatnam Port Authority inks deals worth Rs 1,400 crore at GMIS 2023

VPA is spending nearly Rs 500 crore for developing the existing four-lane road into a six-lane one from convent junction to Sheela Nagar, the port said in a statement released on day-1 of the GMIS 2023

PSU Watch Bureau

Mumbai: The Visakhapatnam Port Authority (VPA) on Tuesday entered into agreements with the National Highways Authority of India (NHAI) and Trion Properties to execute projects worth Rs 1,400 crore. The port authority inked these deals at the ongoing Global Maritime India Summit (GMIS 2023) in Mumbai.

Also read:Jawaharlal Nehru Port unveils four key projects worth Rs 8,363 crore at GMIS 2023

"VPA exchanged a memorandum of understanding (MoU) with NHAI. As Part of this MoU, NHAI will develop the existing four-lane road into a six-lane one from convent junction to Sheela Nagar. For this, VPA is spending nearly Rs 500 crore," the port authority said in a press release.

Also read:GMIS 2023, Day-1: Thirty-four agreements worth Rs 3.24 lakh crore signed

Similarly, VPA signed an agreement with Trion Properties to develop convention centres, IT office towers and hospitality facilities at an outlay of Rs 900 crore. Further, the port authority has signed a deal with the Indian Navy to develop more facilities in the outer harbour.
VPA has set up a stall at the Global Maritime India Summit, 2023.

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