Krishnapatnam Port Company Ltd (KPCL) is the largest private port in east coast in India. It is the heart and soul for AP after the division of the state. KPCL’s container business which completed one year of operation is expected to nearly double this year. The port in Nellore district in AP had reported revenue of 1200 crores in 2013-14 when compared to 650 crores in 2012-13. KPCL is targeting revenues of 1700 to 1800 crores for next FY.
Coal and Iron ore are two major imports from the port so far. It is the first port in the country to commence the transshipment of bulk cargo. Thanks for Supreme Court for cancelling coal block allocations that makes huge impact on rising of imports to 50%. Besides to that, it also expected to become export hub for iron ore, fertilizers, and automobiles.
As per the sources, depending on market conditions KPCL will go for IPO in next financial year. Sri City SEZ is another reason for increasing the imports in Krishnapatnam. KPCL invested 4800 crores in its third phase of the development. KPCL is waiting for land allotment to take up Machilipatnam Port Project.
