The Vizag International Cruise Terminal (VICT) in Visakhapatnam will be inaugurated by the Ministry of Ports, Shipping and Waterways.
This terminal will facilitate passenger vessels with a capacity of 2,000 passengers per vessel and a draft of 8.1 meters. These developments aim to enhance the infrastructure and facilities at the Visakhapatnam Port Authority (VPA).
Few important stats about India’s port sector:
- India’s strategic location on global shipping routes with a 7,517 km coastline
- Maritime transport handles 70% of India’s trade
- India owns 30% of the global ship-breaking market
- Sagar Mala Program focuses on port-led development with $123 Bn investment
- 100% FDI allowed via government and automatic routes.
- India has 12 major ports and 200 non-major/intermediate ports.
- Jawaharlal Nehru Port Trust is the largest major port, and Mudra is the largest private port.
- Jawaharlal Nehru Port is the first 100% Landlord Major Port