KPMG will submit final report to Visakhapatnam Port Trust on its proposal to construct multi-modal logistic park in a few days.
“The draft report found an area of 106 acres owned by us as most suitable for development as a world-class logistic park,” VPT Chairman M.T. Krishna Babu told The Hindu on Wednesday.
KPMG experts were shown 400 acres identified by the State government near Anakapalle and 106 acres owned by VPT near the Visakhapatnam International Airport during their visit to the city.
“They have zeroed in on the 106-acre land located between the airport and the Port Connectivity Road,” he said.
Mr. Krishna Babu said they would develop it as a Free Trade Zone after roaring success to such notified areas in Mumbai and Chennai to encourage export import trade. Warehousing and other facilities will be created for cargoes like timber, food products and chemicals, which will have assured market.
Port-based industries will be promoted in the vicinity. One has to pay customs duty and take material away as they will be entitled to several tax exemptions due to grant of Free Trade Zone status. The project near the airport might necessitate construction of a flyover to ensure hassle-free movement of throughput.
The site earmarked near Anakapalle by the government was not found viable as it involved spending of nearly Rs.200 crore for having connectivity with the Railways and National Highway. As the width would have come down to 40 metres, the port would have needed another 200 acres adjacent to the area to make the project viable as per the draft report of KPMG.
Container Corporation of India (CONCOR) is developing another Multi-Modal Logistic Park with an investment of Rs.370 crore at Vimannagar close to the airport on an area of 100 acres given by the port on a 30-year lease to handle 0.3 million TEU.
