Mining ban: Krishnapatnam Port incurs huge loss
NELLORE: The Krishnapatnam Port in Nellore district today looks very different without the overloaded iron ore trucks from Obulapuram mines.
A few months ago, one would not have imagined the port sans the iron ore trucks which used to unload the mineral near the berths for export to both domestic and foreign destinations.
It is learn that about 42 lakh tonne of iron ore was exported from Krishnapatnam port. However, there is a disagreement on the figures between officials of different departments. As a part of its investigation, the CBI is looking into the issue.
Since 2007, iron ore was exported from the port which earned 40 percent of its revenue from this activity alone. Other exports consisted mainly of fertilizer, lime stone, coal, gypsum, granite and palm oil.
Now, with the ban on iron ore mining at Obulapuram and its export from Krishnapatnam port, the revenue of the port has come down drastically. Port CEO Anil Kumar said: "It is true. We have lost revenue up to 40 percent due to the ban.
Though we are able to export other products, we are looking for alternatives to cover the loss. We want to handle container cargo and sent proposals to the government and are waiting for the necessary approval.'
News Posted: 27 December, 2011
Be first to comment on this News / Article!