Chief Minister Chandrababu Naidu’s efforts to transform Andhra Pradesh into an eastern gateway for maritime trade are taking shape. AP Moller Marks, a subsidiary of AP Terminals, a leading international shipping logistics and port management company, has signed a memorandum of understanding with the AP Maritime Board for the development of ports in the state.
APM Terminals will provide infrastructure facilities along with the development of Ramayapatnam, Machilipatnam and Moolapet ports with an investment of Rs. 9 thousand crores. In this regard, the AP Maritime Board and APM Terminals signed an agreement in the presence of Chief Minister Chandrababu Naidu.
Modern terminals and cargo handling systems will be set up and operated in these ports. This is likely to directly provide employment opportunities to 10,000 people. On the other hand, the CM made it clear that the services of APM Terminals should also be used for cargo transportation in the domestic market.
The CM suggested that an economic ecosystem should be created in conjunction with the ports. The CM said that his goal is to make AP a future economy with ports and logistics. The Chief Minister ordered a necessary plan to make Andhra Pradesh a logistics hub in the country.
The CM asked APM Terminals to provide cooperation in formulating a comprehensive plan for cargo transported by rail, road, inland waterways and air routes. The states of Telangana and Chhattisgarh as well as some areas of Maharashtra, Karnataka and Odisha are dependent on ports in AP.
CM Chandrababu suggested that this plan should ensure that goods coming from these states are transported at the lowest cost. The CM clarified that action has been taken to construct a port or harbor for every 50 kilometers of the 1053-kilometer long coastline in AP.
On the other hand, Minister BC Janardhan Reddy, Maritime Board Chairman Damacherla Satya, Industries Secretary Yuvraj and other high-ranking officials and representatives of APM Terminals attended the MoU ceremony between APM Terminals and AP Maritime Board.