Braving Covid-19 restrictions on exports and imports across the globe, minor ports from the state reported decent growth in revenues during 2021-22.
The focus by the AP Maritime Board to accelerate business volumes has helped the state exchequer pocketing about 265 crore. This is about 17 per cent increase over 2020-21 fiscal.
“We made reasonably good revenues from the minor ports in the state as the total revenues touched 265 crore from the 226 crore of the previous financial year. This is significant in the wake of exports and imports getting hit by the Covid-19 restrictions across the globe,” said a senior official.
Though the volume handled by the minor ports slightly dipped due to Covid-19 restrictions, they managed to shore up the revenues with prevention of leakages in taxation.
The five minor ports managed by the state government — Kakinada Anchorage Port, Ravva, Kakinada Deepwater Port, Gangavaram and Krishnapatnam — handled a cargo of 87.54 million tonnes during the last financial year. While the Andhra Pradesh government owns three ports located near Kakinada, the Adani group recently purchased Gangavaram and Krishnapatnam ports. However, all operations in the five ports are directly supervised by the AP Maritime Board.
The AP government fetched nearly 185 crore from the wholly owned three ports near Kakinada. The revenues from the private ports in Gangavaram and Krishnapatnam decreased as they returned only around 80 crore revenue to the exchequer.
While the state government made around 25 crore from Gangavaram port, it pocketed another 55 crore from Krishnapatnam port.
The volume of traffic at the minor ports reported a marginal decrease during 2021-22 chiefly due to Covid-19 restrictions. The ports, which handled a cargo of about 89 million metric tonnes in 2020-21, could handle around 87 mmt during 2021-22 fiscal.
Krishnapatnam emerged as the hub for port activities as it handled about 40 mmt in the last fiscal. “We are anticipating business from ports in Andhra Pradesh to grow by leaps and bounds as we are providing world-class infrastructure close to the ports and connectivity to National Highways, trains and airports. We are hopeful of making a 25-30 per cent growth in the revenues during the current fiscal,” said AP Maritime Board chairman Kayala Venkata Reddy.
Source : b2bchief