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CONCOR to be partner in developing Machilipatnam Port: Balashowry

The CONCOR had proposed Rs 3,000-crore Integrated Logistics Manufacturing Zone (IMLZ) in Machilipatnam as a part of the port project, Balashowry said.

January 25, 2020 / 08:36 AM IST
Representative image

Representative image

YSRCP Member of Parliament Vallabhaneni Balashowry on Friday, January 24, said Container Corporation of India (CONCOR) would become a partner in developing the Machilipatnam Port.

The CONCOR had proposed Rs 3,000 crore Integrated Logistics Manufacturing Zone (IMLZ) in Machilipatnam as a part of the port project, Balashowry said.

He said a Special Purpose Vehicle (SPV) would be formed for the project with 40 percent stake of Machilipatnam Urban Development Authority (MUDA) and 60 percent of CONCOR.

In the evening, CONCOR Chairman and Managing Director V Kalyana Rama met Andhra Pradesh Chief Minister Y S Jaganmohan Reddy at his residence and discussed the Machilipatnam Port project.

R Karikal Valave, Special Chief Secretary to state government, Infrastructure and Investment department also participated in the meeting.

PTI
first published: Jan 25, 2020 08:16 am

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