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.