Over 110 projects worth INR 1.1 lakh crore have been identified under Sagarmala in Andhra Pradesh, with 35 projects worth around INR 32,000 crore already completed. The Visakhapatnam Port is set to experience a strong cargo growth of over 7.5 percent in the financial year 2022-23. Currently, six projects are operational in the Port with an investment of INR 658 crore.
The Visakhapatnam fishing harbour is also being upgraded at a cost of INR 151 crore, which would enhance the quality of life for fishing population. Moreover, the international cruise terminal in Visakhapatnam is nearing completion, with a total investment of INR 97 crore.
These developments are a part of the government’s Sagarmala initiative that aims to promote port-led development in the country. The initiative includes modernisation of ports, enhancement of port connectivity, development of coastal communities and creation of coastal economic zones. In Andhra Pradesh, the initiative aims to provide connectivity to ports, improve port infrastructure and develop related industries.
The Sagarmala initiative is expected to drive economic growth and generate employment opportunities in the region. Additionally, it will improve the state’s overall competitiveness and position it as a leading state in the maritime sector. With completion of several projects, the state is expected to attract investments and boost trade and commerce in the region.
The completion of the Visakhapatnam international cruise terminal, which is set to offer world-class facilities, is expected to boost tourism in the state. The upgraded fishing harbour will also benefit local fishing community and enhance their livelihood.
