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Krishnapatnam port gets financial closure for phase II



Krishnapatnam port in Nellore district of AP is all set to proceed with phase II expansion. It has achieved its financial closure of Rs. 40000 million with a consortium of 16 banks with SBI as lead bank.  Currently, the port has a capacity of 25mtpa and with phase II it will go up by 50 mpta. It will have a coal import potential of 37 mtpa, which will be used effectively by thermal projects coming up in the area. The port promoted by Navayugha is expected to achieve a turnover of Rs.25000 million by 2013 and break even by that time.

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