Andhra Pradesh govt clears DPR for Ramayapatnam port
The DPR was prepared by RITES
The government of Andhra Pradesh has approved the detailed project report (DPR) for Ramayapatnam port.
The government also issued administrative sanction for development of Ramayapatnam port Phase-I works with a total project cost of Rs 3,736.14 crore with 36 month duration for its completion.
The DPR was prepared by RITES for development of Ramayapatnam Non-Major Port under the landlord model through the Ramayapatnam Port Development Corporation (RPDCL) under the overall supervision of the Andhra Pradesh Maritime Board (APMB).
The government will provide Rs 100 crore towards the cost of acquiring 802 acre of land for Phase-I of the port project.
The government also permitted the Andhra Pradesh Maritime Board to raise a debt of Rs 2,079 crore for the project.
The Andhra Pradesh Maritime Board has also been allowed to utilise certain amount of its revenue as equity and escrow in future for the project debt funding as per the Andhra Pradesh Maritime Board Act 2019.