Satellite Port agreement signed in Andhra Pradesh
Andhra Pradesh is aggressively developing its maritime infrastructure to become a dominant force on India's east coast.
With a 975 km coastline, the state is investing in four new greenfield ports, including the one at Machilipatnam.
This new satellite port, a joint venture between the Visakhapatnam Port Authority and Adani Ports and Special Economic Zone, is a key part of the state's Maritime Policy 2024-29.
This policy aims to achieve a top 20 global port ranking and handle 20% of the total cargo handled by all Indian ports by 2047.
The project is crucial for unlocking a $20 billion blue economy for the state by 2035 and is supported by significant budgetary allocations, including a ₹150 crore fund for the Machilipatnam port project.