Stakeholders at Kakinada Ports in India are developing plans in a bid to prepare for accelerated growth in import and export activity, according to The Hindu.
S. Khader Rehman, Commissioner of Customs at the Customs Preventive Commissionerate, said: “Two ports are already functioning now. We are expecting one more port and LNG terminals here in the next four years. We are training our staff to attend all kinds of duties.
“Since both the central and the state governments are keen on developing the ports, the export and import activities will be manifold in the coming years.”
This announcement follows recent news that India is looking to build eight new major ports in the country, which bring the total number of major ports up to 20.
Port and terminal operator DP World is looking to invest more than US$1 billion into the country, which would enable it to boost its presence.
These investments, along with the country’s Sagarmala Project, aim to significantly boost trade for India, with the latter aiming to connect India’s sea coastal and river ports.
The project also aims to diminish congestion and lower overall logistics costs.
India’s Sagarmala project was initially proposed in 2015 with a total of $10 billion proposed for the project.
In a recent update by PTI, it was reported that this investment is anticipated to soar to $60 billion, with 150 projects planned in the next 10 years.